French retailer Système U has reported a 8.4% increase in revenue in its 2023 financial year, to €25.89 billion.
The retailer, which is the fourth largest in the French market, held a market share of 11.8% as of year-end, a 0.2 percentage point increase on the previous year.
The average basket size at the group's stores stood at €41 (+3.7% higher than the previous year), while its online platform, CoursesU.com, reported a 14% increase in sales in 2023, reaching €1.2 billion.
New Stores
The group opened 21 new stores last year, to take its total store count to 959 – with a total of 64,000 square metres added to its footprint. It has also strengthened its presence in international markets, with international revenues coming in at €684 million last year.
To combat persistent inflation, Système U has extended its promotion on 150 essential items, which it is selling at cost price, to help shoppers save money.
Its private-label U-brand products reported a 3.64% increase in sales last year, while it also extended its 'Le meilleur du local' (The best of local) promotional campaign across France, bringing locally-sourced products to its shelves.
A Milestone Year
In 2024, Système U celebrates its 130th anniversary, and the group said that it will continue to remain true to the cooperative model that has served it well over the years.
"As we prepare to celebrate our 130th anniversary this year, 2023 has demonstrated the relevance and adaptability of our cooperative model and reminded us of the special place occupied by Magasins U in the French retail sector," Dominique Schelcher, CEO of Système U, was quoted as saying.
"We have aligned our tools in service of collective performance, continued to build trusted partnerships with our French agricultural supply chains, and reaffirmed our connection with the territories. Positioned closest to our customers, we have supported them – and continue to do so, despite an unprecedented inflationary environment."
