Intermarché Turnover Up 3.2%

ITM, the privately-owned French retail symbol which operates the Intermaché and Netto grocery chains…

ITM, the privately-owned French retail symbol which operates the Intermaché and Netto grocery chains, generated turnover (excluding petrol) of €22.3 billion during 2013.

The strong results helped ITM increase its market share in Europe's second largest economy to 14.2%, up 0.3%.

According to a statement released by the company, the Intermarché network alone, which totalled 1,813 stores at the end of the year, achieved sales growth of 3.2% to €21.3 billion.

The independent retailer said that it has just completed a three-year strategic plan where sales at its various formats (Intermarché Hyper, SUper and Express) recorded a 10% growth.

"With 35 consecutive periods of growth in market share and 13% growth in turnover per square meter of our outlets, we are more than satisfied with the performance, which today confirms our strategic choice", said Philippe Manzoni, President of ITM International Food.

Although official figures for Netto were not released, sales at the hard discounter in 2013 are said to have been in the region of around €1.1 billion.

Netto has been on somewhat of a downward slide over the past number of years, closing over 75 stores since 2009.

The turnover of ITM's parent group, Les Mousquetaires which also owns retail operators like Roady, Restaumarché and Bricomarché rose 2.2% in 2013 to €39.9 billion.