Last week, Spanish retailer DIA reported that it achieved sales of over €10 billion in 2017, boosted by double-digit growth in its South American business.
However, in the group's home market of Spain, sales fell by 3.8%, compared to the previous year.
Competition in the Spanish food retail market is increasing, and ratings agency Moody's says that, going forward, this will be credit negative for DIA and other retailers operating in the region.
