Spanish retailer Eroski has reported a 2.4% increase in gross sales in the first nine months of its financial year, to 31 October.
Sales for the nine-month period stood at €4.367 billion, which reflects 'solid sales growth in a challenging environment', the group said.
In food, meanwhile, sales were up 3.1% in the nine-month period, to €4.149 billion, which was boosted by Eroski's commitment to keeping prices low for shoppers, it noted.
EBITDA stood at €246 million for the nine-month period.
Pricing Policy
“During the first nine months of the year we have consolidated the growth of our gross food sales, which are 3.1% higher than the same period in 2023," commented Rosa Carabel, Eroski chief executive. "This increase has been largely driven by our new pricing policy, which is supported by a significant effort aimed at alleviating spend for consumers.
"A clear example is the accumulated savings of more than €33 million that we generated in the first six months of the 2024 financial year for those who choose Eroski to make their purchases."
Carabel also announced that the retailer is investing some €22 million in a number of special promotions over the festive period, with the 'Los Ofertones de la Navidad' campaign seeing discounts on 100 top-selling items.
"This allows us to strengthen our competitiveness in price and commercial appeal," she said.
Management Efficiency
Looking ahead, Eroski said that its ability to contain recent increases in costs 'demonstrates efficient management in all areas through continued efficiency improvement actions'.
It expects sales to come in at a similar level to last year, while it has maintained a 'positive outlook' for the last quarter of the year, as it seeks to consolidate growth and stabilise profitability.
