May 21, 2024

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Italian Discounter MD Finishes Calendar year With More Than 800 Retailers

Italian discounter MD has claimed a solid yr in terms of turnover and new store openings, inspite of the challenges of the COVID-19 pandemic.

The retailer finished the initial half of the calendar year with a 15.95% turnover advancement on the same period of time in 2019, noting that this positive development is also most likely to be verified in the next half.

It also recorded a 10% advancement in food gross sales, in contrast to an average development of 4.5% for the low cost channel.

Talking to daily Il Sole 24 Ore, CEO Patrizio Podini stated that the group’s general performance is even far more important in gentle of the point that FMCG prices in the interval from January to May fell by .5% as opposed to the very same interval in 2019.

Financial commitment

MD has earmarked €250 million for investments in the period of time 2020-2021, primarily for the opening of 40 new structure outlets (32 direct and 10 affiliate marketers), every boasting a revenue space of involving 1,500 and 2,000 sq. metres.

Inspite of the lockdown and the well being crisis, the retailer opened 25 new merchants previous year, both equally straight owned and affiliated, having its whole to in excess of 800.

In addition, the pandemic accelerated the group’s digital income. In the period January-Might 2020, on the net product sales of non-foodstuff solutions grew by 70% when compared to the very same interval in 2019, though electronic payments achieved peaks of 80% to 90% during the lockdown period of time.

To cope with the pandemic, MD invested about €6 million (in the period of time to September 2020 for the basic safety of personnel and shoppers.

MD is the second most significant Italian-owned discounter and the 3rd premier in phrases of turnover, with a 16% share of the discount section.

© 2021 European Supermarket Magazine – your supply for the most current retail news. Short article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine