Portuguese cooperative Coviran achieved gross sales under the banner of €1,260 million in 2016, according to its annual results. Of the retailer's full-year sales, about €106 million was generated in Portugal and €1,154 million in Spain.
In addition, the cooperative also invested €9 million to improve and modernise its stores, and implement technology into the in-store environment.
Looking ahead to the coming year, Coviran revealed that it is potentially looking at opening a logistics centre in Catalonia.
Annual General Meeting
The group made the announcement at its Annual General Meeting, where members declared their support for the management board and the leadership of Chairman and CEO of the Group, Luis Osuna.
The meeting, held in Granada, served to reflect on the main achievements and projects that took place over the year, as well as to reveal future objectives that the company should address in the coming years.
The event was closed by the Mayor of Granada, Francisco Cuenca, who congratulated Coviran on its 55th anniversary.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Aidan O’Sullivan. Click subscribe to sign up to ESM: The European Supermarket Magazine.
