The Spanish group will focus its activities only in the state of São Paulo; The action is to attempt to reverse losses
Spanish supermarket group day It announced on Thursday (March 14, 2024) that it will close 343 of its 587 stores and 3 distribution centers in Brazil. This measure aims to seek monetary stability after negative results in 2023, as there were losses worth 154 million euros (840 million Brazilian reals) in the country during this period.
“These measures will enable the allocation of resources to more profitable markets with greater growth potential for the Group in Spain and Argentina, where the company has achieved a relevant position through a strategy focused on local food distribution.”“, the group says in a note.
The other 244 units that will continue to operate are those in the state of São Paulo. The chain indicates in the memo that it will analyze strategic alternatives for business in Brazil and thus plan the next steps.
The network was founded in 1979 in Madrid (Spain), and arrived in Brazil in 2001. Today, 7,000 employees work in the country, which represents 17.5% of the total (40,000) of the countries in which the network operates.
In 2023, in contrast to Brazil, Dea Group's operations in Argentina and Spain generated profits: €6 million (R$33 million) and €122 million (R$664 million), respectively. here complete Last year's results (PDF – 3.9 MB).
