The Spanish supermarket group Dia announced on Thursday (14) that it has decided to close most of its stores operating in Brazil and focus its operations in the state of São Paulo.
Of the total 587 operational stores, 343 will be closed. Three warehouses will also be closed. The 244 units that will continue to operate are in the state of São Paulo.
According to Grupo Dia in Brazil, the adjustment plan was necessary to stabilize the company's structure after continued negative results.
Once the stores close, the group says it will begin “analyzing strategic alternatives for the Dia Brasil business.”
According to the company, the company has greater profitability in its São Paulo units and “concentrating the stores allows us to leverage the logistics network and reduce costs.”
“These actions will make it possible to allocate resources to more profitable markets with greater growth potential for the group in Spain and Argentina, where the company has currently achieved a niche through a strategy focused on local food distribution,” says Dia, in a note. .
The closure of the 343 stores is the most immediate restructuring measure approved by the chain's board of directors in Brazil, according to a statement sent to the Spanish Securities and Exchange Commission and signed by Distribuidora Internacional de Alimentación SA's CFO, Guillaume. Marie Didier Gras.
Dia opened its first unit in Brazil in 2001. Last August, the chain sold nearly 500 supermarkets in Portugal. The chain said at the time that it would focus its efforts on its core markets and reduce its debt. (Fernanda Brigatti / Fullpress)
