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DIA's transformation: it considers the cruising speed with Spain as the engine

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There are sectors that have managed to avoid the Covid-19 crisis and companies that, despite the epidemic and as a consequence of confinement, are growing. And some, like him DIA supermarket group Not only are they growing, but they are also doing so in the process of implementing their transformation plan.

The company controlled by the magnate Mikhail Fridman It has just revealed to the market some details of how it has fared in these months. Initial data because still it is not your half-yearly presentation of results, nor the complete photograph indicating your profitability.

However, the data it exposes show that the roadmap in which it has been immersed for a year is giving results. Its net sales rebounded 6% in the second quarter, despite the closure of stores that did not fit in with its new strategy and the currency effect of the Brazilian real and the Argentine peso. AND comparable sales, which has been achieved in stores opened for more than a year, grew by 15%, with all the markets progressing positively, something that it has not achieved since 2016.

The company considers the first phase of its transformation to be over, which involved the rethinking of the store network and, therefore, of closings; improving your supply chain and reducing expenses. You are now immersed in the second stage of that roadmap.

NEW STORE MODEL

Is second stage It is focused on the commercial part, including the implementation of a new store model, as the company announced in May and also includes advance online. Of course, there are no new openings on the calendar, because the growth of the network is not contemplated until 2022.

At the moment, in this quarter, the growth of comparable sales ('like for like') of DIA is above what is expected for the coming years, because for the next three years (until 2023) it is between 5% and 7%.

And, waiting for you to communicate how your profitability and the other financial data are going, Spain has become the engine of DIA. Here its comparable sales take off 20%, compared to 14.7 in Brazil, 9.2% from Portugal and the 4% in which he stays in Argentina. Specifically, in the quarter, 1,204 million euros entered Spain, 66% of all its business. He assures that this rebound in his domestic market is the result of his new strategy and because his clients' shopping basket is higher. However, that last piece of information does not reveal it.

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