Covirán reports positive results for 2017

Date : 05 March 2018

Spain-based cooperative Covirán has released its results for 2017 and plans for 2018. Luis Osuna, president of the Covirán Group declared ambitious plans for 2018, with a goal to grow 15% compared to 2017

6.3% sales growth compared to 2016

Covirán reported strong sales, up 6.3% on the previous year to reach €1,340m. Of this figure €1,220m came from Spain, and €120m from Portugal.

Covirán maintains a strong position in the Iberian Peninsula, with more than 3,300 supermarkets.  A key part of the company’s success is that is faces little competition in the areas it operates. The retailer said that it is the sole operator in 17% of towns with less than 10,000 inhabitants, and in 31% of towns with less than 2,000 inhabitants.

Expansion plans

Covirán’s store network is concentrated in Spain, particularly in the south. However, the group aims to increase growth in central and northern Spain, whilst modernising existing stores. Expansion in Catalonia is a strategic focus for the group. Covirán’s acquisition of 90 DUSA supermarkets in Catalonia is evidence of this.

In Portugal, Covirán aims to increase its network to 450 stores by 2020.

The Canary Islands and Morocco are also areas targeted for expansion in the long term. During 2018 two pilot stores will be opened in Morocco, with two more openings planned for 2019.

Looking ahead

Digital transformation is a focus for the group, accounting for 40% of the company’s future investments. Other companies, like DIA and Carrefour have also stated that digitalisation is a key focus. This points to 2018 being an important year for the development of ecommerce in Spain and Portugal.

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