Italy’s third largest retail group, Selex, has announced plans to open 69 new outlets in 2016, totalling 89,000 m2 of store space.
In addition, 55 existing stores will be renovated, as part of a total investment of €152 million.
Selex, which has a 11.3% market share, is performing well above the market average, with a 1.9% growth in the period January to October this year, compared to the +1.9% average for hypermarkets and supermarkets in Italy.
According to figures released during the annual Shareholders Assembly, 2015 turnover grew 11% to €9.85 billion, partly as a result of the entry of new partner, Il Gigante, from 1 January 2015 (encompassing 53 supermarkets and hypermarkets). Revenue is expected to increase by an additional 4% in 2016, to €10.2 billion.
The Selex Group is present in every one of Italy’s regions, in more than 90 provinces and in over 1,700 municipalities, with sales outlets of various formats (hypermarkets, supermarkets, discount stores, minimarkets and Cash & Carry). It has 2,470 sales outlets, accounting for a total surface area in excess of 2 million square metres.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.
