Retail

Sligro Food Group Reports 9.5% Decline In Turnover In Q3

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Dutch wholesaler Sligro Food Group has posted a 9.5% year-on-year decline in turnover to €547 million in the third quarter of its financial year.

In the Netherlands, the company’s third-quarter revenue declined to €504 million, from €550 last year.

The Belgian division generated revenue worth €43 million during the quarter, down from €55 million in 2019.

Sligro witnessed an overall 14.4% decline in revenue in the first nine months of its financial year to €1.49 billion from €1.74 billion in 2019.

Impact Of Pandemic

Sales in the Netherlands and Belgium were impacted, particularly in the second quarter, due to government measures implemented to contain the spread of the COVID-19 pandemic.

However, the company added that it witnessed a strong recovery in the third quarter, driven by a pleasant summer.

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.

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