Greek retailer Sklavenitis generated €5.16 billion in sales in its financial year 2023, up from €4.47 billion in 2022, according to media reports.
The retail group's profits before taxes amounted to €135.4 million, while expenditure in investments reached €140 million during the year, the publication FoodBusiness reported.
In Greece, Sklavenitis supermarkets generated €4.3 billion in this period, and pre-tax profits amounted to €112.6 million, accounting for 2.6% of total turnover.
The retail chain also invested more than €40 million in a support plan aimed at wage increases for its 31,400 employees and an extraordinary aid of €300 for all its employees in November.
Sklavenitis invested €119 million in a development plan, focusing on opening new stores in Glyfada, Karditsa and Mytilini, acquisition of former facilities of Pitsos in Renti, renovation of around 24 Stores and digital transformation and energy conservation projects.
Highlights Of 2024
As of 1 November 2024, the retail chain implemented five-day work contracts for 5,700 workers with the same remuneration as in the previous six-day contract.
It opened three new stores in Thessaloniki and Rhodes and announced plans to invest €130 million in further developing the chain and strengthening its human resources.
The company also plans to open a new distribution centre spanning 125,000 square metres in Attica, and invest in further modernisation of its logistics infrastructure.
Sklavenitis also seeks to improve its e-commerce services.
In June of this year, the retailer has also agreed to acquire nine Papantoniou Stores to consolidate its presence in the Cypriot market.
Elsewhere, the prices of products in Greek supermarkets saw an average year-on-year decline of 1.56% in July, according to a new survey by the Institute of Consumer Goods Retail Research (IELKA).
