Italian regional retailer Gruppo Megamark has reported sales of €2.2 billion in 2021, up 9.7% compared to 2020.
Its market share reached 14.6%, confirming the Trani-based group’s leadership position in southern Italy.
The positive sales trend continued in to the first half of 2022, with a further 6.5% growth in sales at the checkout compared to the same period in 2021, it said.
Shareholders approved an investment of over €50 million for the period 2022-2024, which has been earmarked for the opening of eight new superstores, the modernisation of 12 existing stores and a new logistics platform.
According to founder and chairman, Giovanni Pomarico, the group has decided to absorb up to 50% of the price increases resulting from rising inflation, in order to "provide relief to families".
The group has also undertaken several other actions to support consumer purchasing power in the first half of 2022, including the 'Spesa Difesa' initiative, which sees Selex private-label products offered at reduced prices.
The group is present in the Puglia, Campania, Molise, Basilicata and Calabria regions, operating more than 500 stores under the A&O, Dok, Famila and Sole365 banners.
Food Waste Reduction
Late last year, the retailer announced its participating in a food waste reduction pilot, ShareFood, which connects producers with surplus food, comprising individuals and businesses, to possible users.
The University of Bari also participated in the project under the guidance of Torino-based project leader and environmental consultancy company, Consea.