Irish retailer SuperValu has announced that it posted sales of €2.7 billion in 2017 – a new record for the supermarket chain.
The retailer, which is owned by the Musgrave Group, also revealed that it plans to invest €40 million in new stores, revamps, and online expansion.
This will include three new stores and 50 refurbishments, bringing the total store investment by SuperValu retailers to €110 million since 2016.
There are currently 217 SuperValu stores across the country. The group has a focus on supporting local businesses, with around 75% of the products on its shelves sourced in Ireland.
"Despite a highly competitive grocery market, SuperValu continues to grow," said Martin Kelleher, managing director of SuperValu. "Our focus for 2018 will be to build on this momentum by continuing to deliver the best combination of value, customer service and quality fresh food in the market.
"By differentiating ourselves from the competition, particularly through our unrivalled commitment to Irish suppliers, SuperValu will continue to be a destination shop, as we have products on shelf that cannot be bought elsewhere,” Kelleher added.
According to the latest market share figures from Kantar Worldpanel, SuperValu is currently the third-largest grocer in Ireland, with 22.2% share.
© 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.