French retail group Les Mousquetaires, which operates the Intermarché, Bricomarché, and Roady banners, has ambitious plans for its Portuguese operations, according to reports.
The French retailer is planning to invest €240 million by 2029 and create 3,000 new jobs, the chief executive of its Portuguese unit, Os Mosqueteiros, Pedro Subtil, told daily newspaper Jornal de Negocios.
The company currently operates in two-thirds of Portugal's municipalities and intends to expand to further locations across the country. It will soon open its first stores in Faro, a district capital in which it hasn't had a presence in before.
Les Mousquetaires achieved 7.8% sales growth in Portugal in 2023, reporting sales increases across the group's different brands.
Intermarché Leads the Way
Intermarché, the retailer's leading banner, saw its turnover reach €2.8 billion, reflecting a 7.7% increase.
Bricomarché, a chain that specialists in home improvement supplies, experienced a 7.3% rise in turnover, reaching €184 million. Elsewhere, convenience store banner Roady delivered the strongest growth (+11%), with its turnover rising to €48 million.
The group also expanded its physical presence in Portugal by opening 10 new stores, bringing its total network to 357 outlets, including 265 Intermarché supermarkets, 56 Bricomarché stores, and 36 Roady convenience stores.
This expansion was fuelled by a €41.5 million investment by the company and resulted in 350 new jobs, bringing its total workforce to more than 14,500 employees.
These stores are managed by 287 independent entrepreneurs and occupy a combined sales area exceeding 500,000 square metres, the retailer said.
MC Performance
Elsewhere, rival Portuguese chain MC reported a 9.4% year-on-year revenue increase to €1.6 billion in the first quarter of 2024, driven by strong performances in its grocery and health & beauty segments.
While food price increases were significantly lower in the quarter (1.2%) compared to the previous year (20.5%), market competition in Portugal remained intense.
