Spanish retailer Mercadona saw its profits increase 7% in 2012 as it managed to increase sales in one of Europe’s most challenging economies.
Mercadona yesterday (7 March) booked net profit of EUR508m (US$665.1m) for 2012. It cited better productivity and higher sales for the improved bottom line.
Turnover increased 7% to EUR19.08bn. Mercadona opened 60 stores in 2012 but also posted a 2% rise in same-store sales.
The retailer invested EUR650m into its business in 2012, higher than the EUR600m it said it would spend earlier in the year. In 2013, Mercadona has set out plans to invest EUR600m on opening another 60 outlets, on revamping some current stores and on its logistics network.
Mercadona also said it was looking for its first store in the Basque Country with an eye on opening an outlet in the region by early 2015. At the end of 2012, it had over 1,411 stores in Spain.
