In Spain, Dia sales rose 9.4%, but in Latin America sales fell 19%.
Exchange rates and problems in Brazil are dragging down the company’s turnover, which continues to show positive dynamics in Spain, supported by store renovations, brand promotion and increased traffic to its establishments.
Day The company continues to improve its business in Spain but is struggling in two Latin American markets. The network ended fiscal year 2023 with gross sales (including VAT) – 8,994 million euros, 19.6% less, depending on the progress of the results that haveissued by CNMV.
If the sale of stores and their sale of assets in Clarel and Portugal, turnover amounted to 7.649 million, 19.4% less. In a comparable way – without exchange rates and the same stores – figure it will be 3.1% higher.
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Day The company continues to improve its business in Spain but is struggling in two Latin American markets. The network ended fiscal year 2023 with gross sales (including VAT) – 8,994 million euros, 19.6% less, depending on the progress of the results that haveissued by CNMV.
If the sale of stores and their sale of assets in Clarel and Portugal, turnover amounted to 7.649 million, 19.4% less. In a comparable way – without exchange rates and the same stores – figure it will be 3.1% higher.
The group grew by 9.4% in Spain (10.7% like-for-like) to €4.856 million gross thanks to renovation of your retail park (86% already completed), increase in the number of ticketswhich compensated for the fall of the middle basket, and growth in sales of its own brands.
“The transformation of Dia in Spain is a reality that has given us the necessary impetus to achieve this goal. excellent sales result”“says Ricardo Alvarez, CEO of Dia España.
Failure in Argentina and Brazil
Instead, the company experienced negative developments in its two Latin American markets for various reasons. IN Argentinahis second key country, billed €1.886 million, down 53% due to exchange rate effects. In comparable volumes the decrease was 1.2%.
IN BrazilThe group acknowledges that it continues to work to define the operating model and points “problems with inventories and supply levels from suppliers.” Its sales fell by 8.8% to 907.8 million euros.
“Company is approaching 2024 thanks to the thorough transformations carried out”“says Martin Tolkachir, CEO of Grupo Dia.