Spanish retailer DIA has reported a 12.6% increase in net sales in the first nine months of 2022, while gross sales increased by 2.4%.
The company added that growth was boosted by its new customer value proposition, which has been implemented fully in Spain and Argentina.
Since the beginning of the transformation process, DIA has remodelled around 1,452 stores in Spain and opened 44 new stores.
The number of store visits increased by 6.6% in the first nine months at the group level, while the average basket reduced by 1.3%.
Regional Performance
The group's Spanish operations saw a 4.1% increase in net sales in the first nine months, despite a 3.3% reduction in the store network compared to the same period in 2021.
Elsewhere, Portugal posted a 1.1% decrease in net sales, with a 6.2% reduction in the store network.
In Argentina, net sales increased 'exceptionally well' between January and September, according to the retailer, while store count increased by 5.9%.
Brazil reported net sales growth of 11.7% despite an 18.0% reduction in the number of stores and benefited from the 17.2% revaluation of the Brazilian real compared to the same period in 2021, DIA added.
Third-Quarter Sales
In the third quarter, DIA's like-for-Like comparable sales grew by 9.9%.
The number of tickets grew by 8.4%, confirming the effectiveness of the proximity model that is the focus of the group's strategy.
CEO of DIA Group, Martin Tolcachir, said, "The DIA Group's net sales growth in the third quarter of the year confirmed the turning point we advanced in August, confirming the fruits of the redirection of the business that began in 2019 and opening a new phase of acceleration towards growth.
"This has been achieved in the challenging context in which the financial year is unfolding thanks to a clear focus and a dedicated and committed team.
"In the last quarter of the year, we will continue to make progress on our roadmap. We are confident in the direction of our business model, as the increase in the number of tickets and the weight of the DIA brand highlights the fact that our essence, proximity, is the right strategic lever also in an environment like the current one."
© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
