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Boost For Spanish Retailer DIA in Q3

A combination of solid sales growth in emerging markets and the sale of a Turkish business has bolstered earnings for Spanish discount supermarket chain DIA in the third quarter.

Posting a recent 2.5% rise in sales to €2.91 billion, DIA’s adjusted net profit rose 4.5% to €58.3m from July to September, excluding capital gains from the sale of DIA and conglomerate Sabanci Holding’s Turkish business in April to major manufacturer Yildiz Holding.

At the end of September, DIA operated 7,182 stores and totalled 112 net openings in the quarter.

CEO Ricardo Curras commented, “We remain confident in our ability to achieve our targets for 2013.” DIA also announced plans to launch a ‘Clarel’ branded chain.

© 2013 - Checkout Magazine by Stephen Wynne-Jones

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