Netherlands-based Super de Boer has reported strong results for the full-year of 2008, with net profit improving almost three-fold from €10m to €29m and EBIT up to €25m from €21m in 2007.
The group did, however, note a fall in net revenue from €1.86bn to €1.69bn last year, while market share dropped from 7.3 per cent to 6.8 per cent – The result of a drop in store numbers, from 340 to 310.
'Super de Boer achieved a good sales performance in 2008, with average sales per store up 7.3 per cent and consumer sales almost the same as in 2007 with, on average, 30 stores less,' said group CEO Jan Brouwer. 'This reflects the combined effect of the refurbishment of 42 stores and the further strengthening of the Super de Boer format.'
For 2009, the group said that it is well placed to meet the challenges of the global economic crisis by modernising stores, enforcing local marketing, rolling out its new format concept and expanding its private label range in 2007 and 2008.
Meanwhile, it plans to refurbish or extend 50 to 60 stores this year, increase its focus on private label and improving price positioning, and planning capital expenditure of €20m in own stores.
