Italy's Conad Sees Turnover Up 5.9% In Full-Year 2019
Italian retailer Conad has posted a 5.9% increase in turnover in full-year 2019, to €14.3 billion.
This equates to €800 million of additional turnover generated this year, it said.
As of year-end 2019, Conad holds a market share of 13.3%, up 40 basis points on the previous year, or 22.8% in the supermarket channel, in which it is the market leader.
On top of its significant presence in Umbria, Lazio, Abruzzo, Molise, Calabria and Sardinia, where it is a leader, as well as Emilia-Romagna, Marche, Campania, Sicily and Tuscany, Conad also holds a strong share in municipalities with less than 5,000 inhabitants, in which it plays a 'neighbourhood and service role', it said.
"The results achieved are the result of our entrepreneurial model, in which our business partners, our brand, and our ability to invest in innovation make the difference," commented Conad managing director Francesco Pugliese.
He added that to "respond to the new needs of customers", Conad is engaging in a "reorganisation and concentration" project, which has seen the development of Conad Nord Ovest, which brings together the PAC 2000A and Conad Sicilia cooperatives.
Across Italy, currently operates 3,651 stores, which is up 118 stores compared to the previous year, a number that also includes the transfer of the first stores from the Auchan Italy network, which it acquired earlier this year.
Conad said that as of 30 November, some 66 former outlets have transferred to the group, while more than 2,400 former Auchan employees have been absorbed.
Back in October, Pugliese had warned that the acquisition was proving 'more complex than expected', due to ongoing discussions with trade unions, as well as operational challenges.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine