Norway: Discount drives growth for Reitangruppen
Discount success: ‘running logical concepts that customers want’
The retailer’s discount banner, REMA 1000, continued to perform, reporting a 5.8% increase in turnover to NOK 58bn (€6.7bn). The retailer attributed this to running ‘logical concepts that customers want’, as well as its focus on operational efficiencies.
Convenience: +3.7%
Reitan Convenience also performed well, reporting a 3.7% increase in turnover to NOK 14.7bn (€1.5bn).
Convenience channel continues to raise its game
Commenting on the performance, Magnus Reitan, CEO of Reitan Convenience advised, ‘We have focused on cultivating and strengthening our brands, and worked continuously to raise the quality of assortment, service and facilities. In 2015 we will further strengthen this commitment, especially in quality and drinks to people on the move’.
In related news…
Elsewhere in the Norwegian grocery market, competitor ICA is awaiting approval from the Norwegian Competition Authority regarding the sale of its stores to Coop Norge, the country’s third largest retailer. A decision on this is awaited no later than May 2015 should the sale be approved, the combined business could challenge Reitangruppen as Norway’s second largest retailer.
Source: igd.com
