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The Spanish market has partly offset Dia‘s fall in sales in countries such as Argentina and Brazil. Specifically, by 5.6% and 12% respectively.
The supermarket chain’s first quarter was plagued by a decline in turnover and a 2.4% drop in net sales to 1.72 billion euros. This followed the sale of 223 shops to Alcampo and the Clarel chain to the Colombian Trinity.
However, the impact of this fall would have been even greater had it not been for the positive rise in the Spanish market, where the company posted a turnover of 988.5 million euros thanks to its conquest of market share and the opening of 30 shops in the last 12 months.
At the same time, the first three months of the year have had a negative impact on Dia’s earnings due to the setbacks experienced in Argentina and Brazil. A result caused by the devaluation of the peso, which affected Dia’s operations in Argentina, causing its sales to fall by 5.6%. The supermarket will compensate for this to some extent with the opening of 39 shops in the Latin American country.
In Brazil, where the company is immersed in a restructuring plan to mitigate the negative impact of this market on its accounts, its sales fell by 10%. As a result, Dia has decided to close 343 shops and three warehouses in the country. Meanwhile, Dia’s revenues in Portugal also fell by almost 3% in the quarter, to 136.5 million.
