Italian discount supermarket chain Eurospin ended 2016 with a 6.7% growth in revenue to €4.7 billion and profits of €184 million (compared to €169 million in 2015).
The Verona-based company also saw a 6.9% growth in EBITDA to €307 million, with the average store generating revenues of €4.34 million compared (€4.19 million in 2015). This compares to a national average of €2.56 million, according to figures published by daily Il Sole 24 Ore.
The group is attributing its positive performance to a limited range of very affordable products, sold in localised stores in small and medium-sized communities.
The Eurospin business consist of five companies: Spesa Intelligente, Eurospin Tirrenica, Eurospin Lazio, Eurospin Puglia, Eurospin Sicilia and Eurospin Eko (in Slovenia). It operates over 1,000 stores in Italy and Slovenia and has about 7,000 employees.
Eurospin is owned by four partners, each with a 25% stake: Dettaglianti Alimentari Organizzati, Shop, Vega and Migross.
© 2017 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