Dino Polska has reported like-for-like sales growth of 27.2% in the first quarter of its financial year.
The Polish retailer attributed this growth to its product offering and presence in convenient locations.
Revenue for the period amounted to PLN 5.54 billion (€1.21 billion), up 43.8% from PLN 3.85 billion (€840 million) in the first quarter of 2022.
As of the end of March 2023, the retailer's network comprised 2,210 stores – 54 more than one quarter ago, and 330 more than at the end of March 2022.
Michał Krauze, management board member of Dino Polska said, "Geographic expansion continues to be one of our most important priorities. Although we slightly scaled back our short-term plans in 2022 regarding capital expenditures to prepare the company better to function in a more demanding economic environment, the consumer demand we see for stores in the Dino format during every opening strengthens our conviction when it comes to there being a great amount of potential for us to continue expanding our network."
Quarterly Highlights
In the first quarter, capital expenditure for development incurred by Dino Polska amounted to PLN 311 million (€68 million).
At the end of the quarter, headcount in the group climbed to 38,100 people, up by 4,700 thousand from a year ago.
The retailer has opened its eighth distribution centre in the community of Kaliska in the Kujawy and Pomeranian province.
It will help the group ensure that consumers have access to quality fresh products on a regular basis.
The move will also expand its scope of cooperation with local agricultural businesses and food producers, who can distribute their products via the Dino network.
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© 2023 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
