Spain: DIA delivers 9.6% sales growth in 2022
Updated: Mar 1
Discount Retail Chain DIA Group (listed BMAD: DIA and owned by the UK based LetterOne) reported €7.3 billion in net sales for 2022, a 9.6% increase on the previous year, fuelled by a 7.3% LFL sales increase in the fourth quarter of the year, to €1.8 billion. Gross sales in Spain increased 6.3% to €5.3 billion in 2022, with like-for-like sales growth of 11.6% in the fourth quarter, with the retailer also gaining market share.
Performance Outside Spain
Argentina saw 30.8% sales growth to €1.36 billion, despite a drop in consumption during Q4. Net sales in Portugal grew 0.5% to €596 million (+3.7% LFL), while Brazil delivered €890 million in net sales, reporting 10.9% growth (+7.4% LFL). Despite this growth, there was a 0.9% decrease in the size of the average shopping basket, DIA said. There were 23 store openings in Spain and 101 in Argentina, while 809 and 255 stores were remodelled, respectively.
Divestment Of Business
During the year, DIA sold a number of large-sized stores to Alcampo in Spain and also divested its personal and home care banner, Clarel. Both transactions await the fulfilment of certain transactional conditions and should be concluded during 2023. Net sales from stores sold to Alcampo and the Clarel stores amounted to €761 million, excluding these stores, Spain delivered a LFL growth of 8.3% in FY and 12.5% in Q4.
DIA has 5,699 stores, some 2,323 stores are now operating under the new trading model, representing 60% of its proximity network. Sales of private label products grew 4% in Spain, accounting for 52.6% of the shopping basket, on average. During 2022, the group revised 690 DIA products, taking the total number of private-label products that have undergone renewal to 1,810 since 2020.
See here for more: Spain's DIA Delivers 9.6% Sales Growth In 2022 | ESM Magazine
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