Italy’s third largest food retailer, Selex Group, has earmarked €152 million to open 69 new stores by the end of 2016 and modernise its existing sales points.
The group is forecasting a turnover of €10.25 billion in 2016, compared to €9.95 billion in 2015 (+5.6% on 2014).
During the first four months of 2016, Selex recorded growth of 4.9 per cent when all channels and new store openings are considered. Like-to-like, growth was 0.7 per cent, in contrast to the average for the food retail sector (hyper and super markets) of -1.3 per cent.
Selex strengthened its position as the third biggest market player, with a 11.6 per cent stake.
Selex Group consists of 15 companies with 2,515 sales points thoughout Italy in the formats Famila (supermarkets and superstores), A&O (neighbourhood stores) and C&C (Cash and Carry).
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.
