Sonae MC has announced it achieved a record turnover, with sales increasing by 9.2% to €4.7bn in 2019. This performance was aided by like-for-like (LFL) sales growth of 3%.
Positive sales performance
Sonae announced its sales growth highlighting a strong performance across all its channels, hypermarkets, supermarkets and new growth businesses.
Hypermarkets sales grew to €1.65 bn, a growth of 1.9% in 2019, while LFL sales also increased by 1.9%. Supermarket sales improved by 7.9%, reaching €2.2 bn in 2019, with LFL sales rising by 3.1%. New growth businesses and others grew to €810m, a rise of 32.9%, while LFL sales increased by 8.2%.
Source: Sonae MC
Its private labels outperformed the market, aided by product innovations and improvements to its assortment. The group also stated it saw strong volume growth in relation to groceries and fresh products.
Expansion developments 2019
Sonae revealed its total store numbers increased to 1,128 stores an increase of 91. The new stores were spread across its various banner, including 13 Continente Bom Dia and three Continente Modelo. Luis Moutinho, Sonae’s CEO stated 2020 developments will concentrate on continuing its expansion plans and focus on its shoppers’ expectations.
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