Italian retail group Gruppo Selex reported a total turnover of €16.9 billion in its 2021 financial year, up 4.3% compared with the previous year.
The group's positive performance continued during the first four months of 2022,it added, with turnover growing 3.2% year-on-year in the period.
The retailer's market share has reached 14.6%, confirming its position as the second largest player in modern distribution.
In the period from January to April 2022, private-label sales grew by 8%, boosted by its specialty and 'first price' lines.
The company's cash-and-carry channel grew by 37.6% in the first four months of this year, driven by the return of out-of-home consumption.
In December of last year, the company had previously forecast a turnover of €16.7 billion for full-year 2021, which would have equated to a 3.1% increase.
Selex is investing €460 million in 2022 to open 95 new stores and renovate around 100 existing outlets.
Consisting of 18 member companies, Selex’s network comprises 3,190 stores across various formats, from superstores to discount stores.
Its most popular banners are Famila, A&O and C+C, which are flanked by regional brands that are often leaders in their respective territories.
Selex Gruppo Commerciale is part of the central buying group ESD Italia, which in turn is a partner of European retail alliance EMD.
In 2021, the company reported 5.5% annual sales growth, to €1.52 billion, across its private-label brand portfolio. The company aims to maximise synergies across the four brands that account for 90% of turnover, including Selex, Vale, Consilia and Il Gigante.
© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.