Monday, June 5, 2023

DIA gained 16.55% in market share after a 10% increase in its sales in the first quarter

The DIA supermarket chain gained 16.55% in the Spanish stock market this Thursday and has signed the best results in the market in a row after billing 1,781 million euros in the first quarter, up 10% compared to the same period in 2022. During the session, the company’s shares closed at a price of Euro 0.016 per share. So far this year, the price has accumulated a revaluation of 27.56%.

DIA billed 1,781 million euros in the first quarter, up 10% on the same period last year, the National Securities Market Commission (CNMV) was told on Thursday.

Over the period, comparable sales for the group — which sold 224 stores to Alcampo in 2022 and divested from its Clarel stores — rose 7%. DIA clarified that, so far, it has transferred to Alcampo 82 of the 224 stores that are part of the deal, while the sale to Clarel “is still pending approval by the regulator and is expected to close.” The whole is within 2023,” reported the company.

As reported by the company itself, the supermarket chain continues to reduce its store park, which currently stands at 5,587, down 2.9% from a year ago.

In Spain, the company’s main market, net sales were 1,117 million, showing growth of 11.7% and 12.4% in comparison. According to the company, these data allow it to gain “market share” in Spain, where it currently ranks fourth in the market after Mercadona, Carrefour, and Lidl.

Meanwhile, in Argentina, net sales rose 19% to 340.7 million euros, reflecting a “recovery in consumption that had slowed in the fourth quarter of 2022.”

In contrast, in Brazil, net sales fell 7.5% to 182.7 million, a development the company attributed to “changes in assortment being implemented in the country” and a 2% reduction in-store network.

In Portugal, DIA invoiced 140.5 million euros in net sales, up 3.2%; Which “compensated with a 7% decrease in the store network and a decline in registered volumes in this market.”

Regarding the development of its transformation, DIA has advanced that 2,654 of the 5,587 group stores at the end of the first quarter are already operating under the new model. This first quarter saw 252 store renovations and 26 openings. Progress has also been made in Spain in the transformation of its brand, which already reaches 80% of the products; 93 new references have been added in the first three months of the year.

World Nation News Desk
World Nation News Desk
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