Système U has announced its 2016 results following a discussion of the retailer’s performance by its chief executive, Serge Papin, earlier in the year. As part of the announcement Système U said total sales including VAT rose 1.5% in 2016 to €19.2 bn.
Results suggests like-for-like sales fell in 2016
In the results statement, Système U said selling space during rose 1.9%, suggesting that like-for-like sales fell by between 0.3% to 0.4%. By channel the retailer said that sales including VAT rose 0.3% at its hypermarkets, to €3.48 bn, while they rose 0.7% at its Super U banner, to €13.63 bn, with the strongest growth at its proximity formats, where they rose 9.4%, to €2.12 bn. Finally, the retailer said that sales rose 9% at its Drives to €482m.
Private label products account for almost 25% of sales
Système U said that sales of U-brands (‘U’ and ‘Bien Vu’) accounted for 24.5% of its sales. Sales of its private label products rose 0.1% to €4.37 bn.
In his interview with LSA, Papin set out the retailer’s investment plans for the period between 2017 to 2022.