Système U Turnover Up 1.5% To Reach €19.2 Billion
French cooperative Système U saw its 2016 turnover reach €19.2 billion, marking growth of 1.5% for the 12 months.
It was a year of two halves for its retailers, with a 0.1% loss of market share for its H1, and then a resurgence in H2, which saw its strongest ever December, during which sales rose 2.7% on a like-for-like basis.
Its managing director, Serge Papin, told LesEchoes.fr that it was “too timid in terms of advertising [for the first half of 2016], and Leclerc and Carrefour ramped up theirs [during this period]. We corrected this, and finished the year with a 0.1% improvement in market share.”
Papin also stated to the news source that Système U aims to generate a turnover of €25 billion by 2022, and boost its share of the French market to 12.5% by this time.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. Click subscribe to sign up for ESM: The European Supermarket Magazine