Retail

Etruria Retail Sees Turnover Up 16% In FY 2020

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Italian food distribution company Etruria Retail has reported a turnover of €253 million in its financial year 2020, up 15.8% compared with the previous year.

The performance was driven by increased sales due to the COVID-19 pandemic, especially in the proximity store segment, as well as the company’s ability to adapt immediately to the new normal.

Out of its total profit of over €4.4 million, the company plans to distribute €2.8 million to shareholders.

Net financial debt declined to €11.6 million, which is half that of 2018.

Product Assortment

In terms of product assortment, miscellaneous goods accounted for 50% of sales, followed by cured meats and dairy products (23%), fruit and vegetables (12%), meat (9%), and frozen foods and fresh fish (6%).

The largest share of sales was recorded in the area of Arezzo, Grosseto and Siena (53%), followed by Northern Tuscany and La Spezia (33%) and Umbria, Lazio and Abruzzo (14%).

In 2020, the company opened eight new stores, taking the total to 311, distributed to Carrefour Market (48), Carrefour Express (109) and La Bottega Sapori e Valori (154) banners.

Expansion Plans

Etruria Retail will open 20 new stores between 2021-2023, managing director, Graziano Costantini told local broadcaster Canale 3

In addition, it is planning a major restructuring of its network in order to modernise the commercial, service and communications offerings.

Since 2020, Etruria Retail is a major franchisor of Carrefour Italia for Central Italy, operating in 15 provinces in Tuscany, Umbria and Lazio.

In 2016,  the company saw a turnover of over €211 million with net profit amounting to €3 million.

© 2021 European Supermarket Magazine – your source for the latest Retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine

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