Mercadona to expand in Portugal
Spain’s leading supermarket chain Mercadona is to open its first store in Lisbon next year as it continues its expansion in the country. By the end of 2021, the retailer plans to open five stores in northern Portugal, according to a report by El Pais.
Mercadona reported record profits in Spain last year, with turnover increasing by 5.6% to €24.6bn and profits up 16.7% to €727m. In Portugal, the group’s turnover increased from €32m to €186m, but it made a net loss of €82.9m. The retailer recently approved a €400m capital increase to be used for further expansion in Portugal.
Mercadona first entered Portugal in 2019, and now has 24 stores, as well as an innovation centre in Matosinhos and a logistics centre in Póvoa de Varzim.