Spanish supermarket chain Eroski has outlined its strategic plan for the next five years at the retailer's Ordinary General Assembly this week.
The plan includes an investment of €420 million in the business, which will be used to open 300 more stores and transform the group's store network.
Eroski Ordinary General Assembly
Eroski held its annual Ordinary General Assembly this week in Barakaldo (Bizkaia), where 500 people representing their groups of worker members and consumer members were in attendance.
The General Assembly, which is the highest decision-making body of the cooperative, approved the annual accounts and the distribution of results for the year 2020.
Its President, Agustín Markaide, reviewed the goals achieved last year and highlighted the end to the resizing and renovation phase that began 12 years ago.
Markaide commented that “2020 has been an exceptional year. Mainly due to the incidence of COVID, but also due to the positive performance that EROSKI has developed in exceptional circumstances.”
In 2020, the group achieved its best operating profit in the last 12 years, amounting to €252 million.
Markaide added, “We have linked years of progressive improvement and this is the result of the materialisation of successive resistance and transformation plans, which have concluded with the resizing of our business, but also with the improvement of its attractiveness and competitiveness."
21-24 Strategic Plan
Eroski plans to add around 2,000 people as members of the cooperative in the next five years.
"The addition of new cooperative members to our project is a social objective of the first magnitude," said Rosa Carabel, general director, Eroski.
The chain plans open around 300 new stores and continue the transformation of its network, investing up to €420 million throughout the 21-24 Strategic Plan.
Hinting at the group's plans for the next number of years, Carabel said the co-operative's "new business models will reflect a firm commitment to local, healthy, and sustainable products.”