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My market: Investments of 36 million euros and the traffic – surprise in Omonia

By George Lampiris

The Metro group, which manages the My market stores, is reportedly moving to create a new store in an area that has been showing urban renewal characteristics lately, that of Omonia Square and the streets around it. The new My market store will be located on the site of the former McDonald’s store in Omonia Square, in an old neoclassical building, for the utilization of which the company was faced with several restrictions due to its designation as a listed building.

At the same time, within 2021 the Metro group invested a total of 36 million euros creating four new stores, renovated existing points of sale of its network and began the work of expanding the distribution center in Gefyra of Thessaloniki as well as the purchase of new properties to be housed. new stores as well as in the development and improvement of its computer system.

New investments of 36 million euros for 2022 – How they are distributed

For 2022, the group has planned the implementation of investments, the total amount of which will also amount to 36 million euros and will essentially include the creation of new stores in the properties it acquired during this year, while it is expected to add about the 6 new points of sale in its network during the next year.

Regarding the course of 2021, the same sources estimate that it will be marginally positive for the industry, as we remind that based on data from Nielsen until November 7, supermarkets are moving up by 2% in sales. As far as the Metro group is concerned, it will move at the levels of + 2% – 3% in turnover for the whole of 2021, compared to last year, when sales on a consolidated basis amounted to 1.33 billion euros. Much regarding the closing of this year, will depend on the last two months, since last year we had a lockdown, which on the one hand favored the movement in the retail stores My market, but brought pressure on the Metro Cash & Carry stores in the sector. of wholesale, as they are addressed to professionals in the catering and hotel industry.

The most consistent business to its suppliers

It should be noted that according to the information at our disposal, the group is currently the most consistent supermarket company, towards its suppliers, paying them in a period that on average within this year amounts to about 85 days. At the same time, chains such as Sklavenitis paid off in 149 days within 2020, Market In in 142 days, Cretan in 125 days, Masoutis and SYNKA in 120 days, AB Vassilopoulos in 105 days, Galaxias in 101 days, the Bazaar at 100, The Mart at 88 (Panorama Elements of Greek Supermarkets 2021).

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Source From: Capital

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