SPAIN: Eroski posts 16% rise in full-year sales

Spanish supermarket and hypermarket operator Eroski has reported a 16% rise in sales last year to almost €5.4bn (US$5.8bn), helped by expansion in its domestic market. Eroski, which is run as a cooperative, posted a net profit of €89m for 2002, a year-on-year increase of 11%. The group, which opened 193 new stores during last year, now operates 62 hypermarkets under the Eroski banner and 829 Consum supermarkets. Eroski also operates a number of smaller self-service stores, travel agents, cosmetics shops and petrol stations, reported Reuters.

April 10, 2003

Spanish supermarket and hypermarket operator Eroski has reported a 16% rise in sales last year to almost €5.4bn (US$5.8bn), helped by expansion in its domestic market.

Eroski, which is run as a cooperative, posted a net profit of €89m for 2002, a year-on-year increase of 11%.

The group, which opened 193 new stores during last year, now operates 62 hypermarkets under the Eroski banner and 829 Consum supermarkets. Eroski also operates a number of smaller self-service stores, travel agents, cosmetics shops and petrol stations, reported Reuters.