Spanish retailer Dia Group has reported a 4.5% increase in sales on a like-for-like basis in the first nine months of the year, to €4.64 billion.
Sales were up 3% on a reported basis. The turnover achieved excludes the sales registered in the stores transferred to Alcampo in Spain, as well as sales in Portugal and in its Clarel chain.
The group said that its performance underlines the 'strength of Dia's strategy in a complex environment'.
Spain, Argentina And Brazil
In the third quarter alone, gross sales in Spain reached €1.28 billion, which was an increase of 8.3% on a reported basis and 9.7% on a like-for-like basis.
Sales in Argentina were up 3% (in euro denominated currency) in the third quarter, although the negative exchange rate has slowed progress in the market, the group said.
In Brazil, meanwhile, net sales were down 22.4% in the third quarter, with the group citing both sales declines across the wider grocery sector as well as a change in the product mix offered in its stores.
'Solid Performance'
“We have closed the third quarter of the year with a solid performance in Spain and Argentina, as shown by positive comparable sales, and a cumulative figure for the year that confirms the strength of our proximity strategy in this challenging environment,” commented Martín Tolcachir, chief executive of Dia Group.
"The business in Spain is advancing at a good pace, consolidating the new value proposition and growing positively in gross, net and comparable sales."
Tolcachir added that the group's strength in Spain has enabled the business to offset part of the negative impact of the Argentinian currency exchange, although he added that the group "continues to advance in market share" in Argentina, where the operational performance is "very positive".
In August, Dia announced that it was selling its Portuguese business, where it operates the Minipreço and MaisPerto banners, to Auchan Retail for €155 million.
