Portuguese retail group Sonae MC has reported that sales increased by 5.4% to €3.8 billion in 2017, fuelled by like-for-like growth of 1.2%.
In its preliminary sales results, the retailer said that this growth was also boosted by the continued expansion of its Continente Bom Dia proximity store concept, having opened 19 new outlets last year.
Additionally, online retail sales surpassed €100 million for the first time ever during this period.
“2017 was once again a positive year for Sonae MC with the continuous reinforcement of our market leadership in such a demanding market environment," said Luís Moutinho, CEO of Sonae MC.
"The like-for-like sales growth clearly shows the results of a stronger value proposition, namely the effective improvement of our perishables’ quality as well as the price perception, confirmed by the latest study of DECO in which Sonae MC was recognised as the price leader in the Portuguese market.”
As well as the expansion of Continente, Sonae MC says that it is pursuing the strategy of strengthening its position in the health and wellness segment.
Last year, the group increased the number of products available under its health-focused private-label brand Bio e Saudável, acquired Brio supermarkets and a 51% stake in the Go Natural brand, and opened 19 new Wells and three Dr. Well's clinics.
Elsewhere, Sonae MC has also been developing another proximity store format, Meu Super, which is offered under franchise to local partners. The Meu Super network now consists of over 280 stores, with around 20 new outlets opened last year.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.