As a number of retailers in Spain announce their 2014 full year results, we round-up how each has performed during the year.
Consum turnover ‘exceeds €1.94 billion’
Consum’s director of external relations, Javier Quiles, has announced that the retailer enjoyed turnover growth of 5%, taking its total to €1.94 billion. Quiles said that the growth in turnover had been driven by an associated increase in the number of supermarkets it operates, a strategy that it planned to maintain in 2015. The company said that it ended 2014 with 640 supermarkets.
Covirán enjoys turnover growth of 3%
Covirán, a cooperative based in Andalucía, has said that it saw its turnover grow by 3% in 2014, to €618 million, while net profit rose 5% to €900,000. The retailer said that sales through its supermarkets reached €1.2 billion, driven by the addition of stores and the strength of its private label ranges, which it added to during the year. Commenting on the results, Covirán’s chief executive, Luis Osuna, said ‘We are very pleased with the 2014 results, a particularly difficult year for our industry and are confident that 2015 will bring us further good news’, noting that it was aiming to drive turnover growth of 7% in 2015, mainly through the addition of more than 200 stores in Spain and Portugal.
Condis sees flat turnover in 2014
Condis has announced that it broadly maintained its turnover in 2014, at €802 million, after generating €801 million in 2013. The retailer said it was ‘happy’ with its performance after the market suffered a ‘contraction’ and further store openings from rivals meant that there was a strong cannibalisation of sales. Condis said that it invested €20 million during 2014 to improve its supply chain, add 20 stores, of which 14 were franchised, and launch a new strategy focused on the ‘reinvention’ of its proximity format. In 2015 Condis said that it was aiming drive organic turnover growth of 2%, which would see it generate a turnover of over €815 million, through the investment of €18 million in a multichannel strategy and the addition of 20 stores.