ITALY: Esselunga Looks To Grow After Modest FY

Esselunga has unveiled plans to expand its operations this year, even as it reported modest results for fiscal 2016.

For the last year, sales were up 3.1% to €7.54bn, a slowdown from the 4.3% growth recorded in 2015, hurt by price deflation.  Meanwhile, operating profit declined by 6% to €405m, while net profit fell 10% to €262m.

The supermarket giant is looking to improve results this year, with the opening of five new outlets, including its first in Rome.  The 8,100 sq. m. store will open on 5 April (at the intersection with Viale Togliatti, near Tor Sapienza).

Esselunga will also begin work on its fourth logistics centre (in Ospitaletto), even as it recently launched the ‘Clicca e Vai’ (‘Click and Go’) service.