Todis Sees 13% Revenue Growth in 2020
Italian supermarket chain Todis expects to report a 13% annual growth in turnover, to €870 million, for full-year 2020, with like-for-like sales up 7%.
Over the past five years, the number of stores operated by the group has grown by 30%.
The retailer opened 22 new stores in 2020, taking its total to 251, 80% of which are proximity stores, operating in 11 regions of Central and Southern Italy. All stores are franchised and operated by 205 affiliates.
The group's assortment mainly consists of private label products (about 2,000 SKUs), which account for 75% of sales.
During 2021, Todis will invest over €10 million in new openings and the restructuring of existing stores. The retailer is especially eyeing large urban centres, such as Naples and its metropolitan area, as well as Palermo and Bari.
Plans also include further investment in the development of new private label products, with a wide-ranging assortment review project underway.
According to CEO Massimo Lucentini, the group's 2020 results were achieved despite the unfavourable economic situation, while the group's strategy remains focused on fresh, regional and organic products in the private label assortment, responding to changing needs of consumers.
Onwed by Iges, a subsidiary of the Pac2000A Conad cooperative, Todis holds a 4% market share in the discount channel.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine