Portuguese retail group Jerónimo Martins, which operates the Biedronka, Pingo Doce and Recheio banners, saw its net sales rise 6.5% to €14.6 billion in 2016, according to the retailer's preliminary results.
At constant exchange rates, the retailer saw a 9.8% increase.
Its Polish operation, Biedronka, was the star performer for the group, with sales rising 6.3% to €9.8 billion.
'The reinforced offer of Biedronka together with sharper commercial actions allowed the banner to maximise the benefits from a positive consumer environment,' Jerónimo Martins said in a statement.
Pingo Doce and Recheio, which it operates in Portugal, saw sales gains of 4.4% (to €3.5 billion) and 5.9% (to €878 million) respectively.
'Pingo Doce maintained an intense promotional dynamic while guaranteeing the quality and innovation in its private brand offer,' the retailer said. 'The company kept executing its store revamping programme aiming at continuously improving the overall shopping experience.'
Its Colombia-based retail banner, Ara, saw sales almost double (+92.5%) to €236 million, as it undertook a rapid expansion during 2016.
Looking ahead to the coming year, Jerónimo Martins said that 'our performance in 2016 confirms the adequacy of our strategy to focus on consumer through competitive prices and reinforced attractiveness of our basket and of our shopping experience. This strategic positioning proved it can maximise the capture of the growth opportunities we see in each market where we operate.'
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
