Dutch food retailer Jan Linders Supermarkten has posted a 5.1% year-on-year growth in turnover to €430 million for its financial year 2018.
The retailer saw market growth of 3.5%, while its national market share also grew marginally.
General manager, Leo Linders, commented, "Turnover development is positive compared to the market. However, just like at Jan Linders, the wider food retail market is investing heavily in its store stock and in its formulas, and the level of service has also increased.
"Due to the increase in costs across the board, we were unable to achieve any growth in net profits in 2018," he explained.
The increase in revenue was mainly because of the implementation of a new growth strategy in 2016, the company said.
This included investments in the renovation of stores to offer fresh, local products with better services, benefits, and store experience.
In the past year, the retailer upgraded nine supermarkets, taking the total number of renovated outlets to 30.
The company also invested in its Liefateurs customer programme, which was launched in early 2019.
In 2019, Jan Linders opened new stores in Eindhoven, Veghel, and Reusel and acquired supermarkets in Sint Anthonis and Nederweert.
"This year is therefore all about continuing our growth. We do this by staying close to ourselves as a regional player. That is our strength," Linders added.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.