Dino Polska reports 54% revenue growth in third quarter
Polish retailer Dino Polska has reported Year-on-year revenue growth of 54% to PLN 5.4 billion (€1.2 billion) in the third quarter of its fiscal year.
Year-to-date, the retailer generated sales of PLN 14.1 billion (€3 billion) from January to September 2022, up 48.5% year-on-year last and exceeding the turnover of the year 2021 by 13.4 billion PLN (2.9 billion euros). billion).
Like-for-like sales increased 33.2% in the third quarter and 28.3% in the first nine months of 2022.
‘Single store format’
Michał Krauze, Board Member of Dino Polska, said: “The scale of our business is growing at an increasingly rapid pace. This is a result of our business model and Dino’s unique store format. We are able to open stores very close to where customers live.
“New deliveries of fresh products are made every day in our stores, which allows us to ensure [top quality products]. At the same time, we strive to run the business efficiently and economically so that we can offer our customers low prices and attractive promotions.”
The retailer noted that its conveniently located stores and attractive prices drove shoppers to visit its stores more than 1.6 million times per day on average in the third quarter.
The group invested a total of 393 million PLN (83.8 million euros) in capital expenditure in the third quarter, while since the beginning of the year it amounts to 1.1 billion PLN (230 million euros).
The investment was channeled into the launch of new Dino stores, creating an additional 6,000 jobs in the first nine months of its fiscal year.
The retailer is also putting in place measures to reduce environmental impact, including facilities to generate electricity from renewable energy sources, among others.