Italy's number two grocery retailer, Conad, has reported a 7.3% increase in turnover for 2012.
Difficult year for consumers
Consumption fell by 4.3% at the end of 2012, according to official Italian data. Conad's director general, Francesco Pugliese, praised the commitment of its co-operative members and entrepreneurs for making such strong growth possible. However he remains concerned about the fall in consumption and potential increase in VAT which will further penalise struggling Italian families.
Increases sales of private label products
Conad increased sales of its private label ranges by 17% in 2012, to €2.2bn. It has revised a third of the 2,711 products, making improvements to quality.