Italian regional grocery retailer Unicoop Firenze has reported sales of €2.37 billion during 2016, representing a 1.2% increase on the previous year.
This compares to an average national growth of 0.1% for Italy's grocery retail sector as a whole.
Unicoop's net profit for the year stood at €23.2 million, while the the retailer's net assets reached €1.55 billion.
The Tuscany-based retailer invested €42 million in 2016, mainly for the opening of new stores and renovations of existing ones. In the three-year period from 2014 to 2016, investments amounted to €187 million.
Unicoop Firenze says that it dropped its prices by 0.3% in 2016, and is now considered among the most affordable supermarkets in Italy by external sources.
© 2017 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