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DIA’s sales up 8.5% despite fall in store numbers

Mon 15/08/2022 by Richard Wilkinson

Spanish retail group DIA registered an 8.5% increase in sales in the first half of 2022 compared to the same period in 2021, reaching €3.47 billion. However, the number of DIA outlets fell by 3.9% over the same period, according to a report sent by the company to the National Securities Market Commission (CNMV). The group closed the first half of the year with 5,733 stores in the four markets in which it operates (Spain, Portugal, Argentina and Brazil), 4.3% less than a year before.

In Spain, the group saw slightly increased sales, despite the 3.9% contraction in the store network, while in Portugal turnover fell by 4.5% and the number of stores by 1%.

During the first six months of the year, net sales in Argentina, driven by inflation higher than the devaluation of the currency, were up 13.6%, with store numbers increasing by 3.7%. In Brazil, net sales increased by 13.9% despite the 18.2% reduction in the number of stores. The company reportedly benefited in this period from the 17.5% revaluation of the Brazilian currency.

The DIA Group has also provided the data for the second quarter on comparable “Like-for-Like” sales, which show positive results in all markets. There was a significant recovery from the first quarter in Spain (+6.6%) and Portugal (+3.2%), Brazil (+9.5%) and Argentina (+4.5%).

At the end of June, the company had 1,775 stores operating under the new store model and representing 46% of the neighbourhood store network. As detailed by the company’s report, the complex economic scenario, marked by inflation and the rising cost of raw materials, fuel and energy, is already leading to changes in customer behaviour, with increased frequency of visits to stores, but smaller purchases. In addition, between January and June, the weight of DIA’s own brand in the basket increased to 51.7% in Spain, compared to 47.7% in the same period of the previous year.

 

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