Dia announces strong FY results | Progresiv

Spain-based DIA has announced FY2016 results saying that excluding the effects of currency moves, gross sales under banner rose 10.2% to 11.63 billion euros. Including the effects of currency, gross sales were flat at 10.55 billion euros. The retailer said it had enjoyed positive like-for-like sales in all its operating markets. This was particularly encouraging given the challenges it has faced in Portugal and given that Spain, Argentina and Brazil had seen food volumes decline during the year.

By reporting market, for the full year, DIA said:

Iberia: Gross sales under banner reached 6.81 billion euros, with gross sales under banners rising by 1.1% and like-for-like sales up by 1.0%;

Emerging markets: Gross sales under banner fell to 3.74 billion euros, while in local currency terms they rose 26.3%. Comparable sales growth was 19.1% in 2016 (excluding a +0.3% calendar effect). By country, DIA noted that like-for-like sales growth had slowed in Argentina and Brazil in Q4 in line with inflation. In China it said comparable sales growth reached 3.4% in the year. (www.igd.com)