Sonae MC’s 2020 Q3 results

Date : 18 November 2020

Lucy Bellotti

Retail Analyst

Portugal-based Sonae MC announced a strong Q3 performance. Consolidated sales grew by 7.4% to €1.3 bn in Q3 2020, with like-for-like (LFL) sales increasing by 4.8%. The retailer sustained good momentum with its online channel during the COVID-19 pandemic and improved its market leadership in the food retail sector in Portugal.

Sales performance

Sonae MC revealed its hypermarkets grew sales by 4.4% in Q3 2020, with LFL sales up by 4.6% compared to Q3 2019. The retailer’s supermarkets gained 8.6% in Q3 2020, while LFL’s grew by 5.3%.

Finally, Sonae MC’s new growth businesses and others achieved growth of 9.5%, with LFL sales up by 3%.

Source: Sonae MC

Cláudia Azevedo Sonae MC’s CEO claims the retailer has ‘reinforced its commitments to our People and our Planet. We published a revised gender equality plan and in November, we committed to reach carbon neutrality by 2040, improving on our previous pledge by 10 years.’

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