Conad has recorded a 6% increase in sales during 2021, to €16.9 billion, a period in which it 'consolidated its leadership position' in the Italian grocery market, according to its management team.
Conad made the announcement at a press release to present its preliminary figures for 2021, which was hosted by CEO Francesco Pugliese and director general Francesco Avanzini.
The retailer also noted that it increased its selling space ahead of the market average, while it has also pledged to increase investment in modernising its store network – €1.8 billion between 2021 and 2023.
"We are satisfied with the results we have achieved in 2021, but we are aware that we have to do more and do better, because we feel responsibility – as the leading employer in the trade and fourth largest in the private sector in Italy – for the economic fabric and social aspects of the country," commented Conad chief executive Francesco Pugliese.
In 2020, Conad reported a 12.3% increase in turnover, boosted by the COVID-19 pandemic.
Inflation Concerns
While the macroeconomic situation in Italy is improving, he noted, increased inflation is threatening to derail this growth – prompting the retailer to do its part to assist with fostering growth.
"At Conad, we will do our part by continuing the store modernisation process and supporting representative associations to ensure that the world of commerce produces a collective unified effort for the sustainable transformation of the sector," Pugliese added.
"For us, this means accompanying Italy towards a better future, both today and tomorrow."
Sustained Growth At Conad
Over the past 15 years, Conad has more than doubled its turnover, while in the past decade, its market share has risen by 4.7 percentage points (as of half-year 2021, the retailer held 15% share, according to Nielsen). In the supermarket channel, it holds just under a quarter (23.7%) of the market.
The group opened 85 additional stores during the year, of which 41 were new format or 'concept' stores such as pet stores, pharmacies and opticians. Conad currently operates 3.908 retail outlets.
The retailer has also hailed the growth of its private label offering, which saw a turnover increase of 5.8% in 2020, to €4.8 billion.
© 2021 European Supermarket Magazine – your source for the latest Retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
