Two empty roads separate the Galaxy from the construction of the privately owned Mall

By George Lampiris

A total of 12 different permits were required by the respective public services in order to begin the construction of the Mall prepared by Pente SA, a company that owns the galaxy supermarkets. The specific Mall, for the construction of which the company maintains a privately owned plot in the area of ​​Salamina, will have a total built-up area of ​​5,000 sq.m. which will be divided into two floors – from 2,500 sq.m. each floor. The mall will include shops, a cinema and restaurants, while it will also have 340 parking spaces.

As we are informed, at the moment two last approvals of permits are pending from the Region and from the competent urban planning of the area, which will give the green light for the start of the works. The design, according to company sources, predicted that the construction of the Mall was to begin in 2022 and specifically after the end of the summer, however all indications at this time are against this possibility.

He is preparing a new privately owned store in Corinth, he is negotiating for four more

At the same time, Galaxias continues to invest in its own store network, as a significant part of its points of sale are part of its strategy to buy plots and develop stores from scratch. In this context, he has bought a plot of land in Corinth and is negotiating for four more in the rest of Greece, in order to build them and operate them in the near future. The goal is for these stores to receive the required building permits after their acquisition and to operate until March 2023.

Regarding the possibility of acquisitions, the Galaxy is currently in negotiations with two smaller supermarket companies, without an agreement at the moment.

A key point in the next day will be the operation of the eshop for the Galaxy, something that was scheduled to happen last November, but was postponed for this year and will probably be completed by the end of the year.

In terms of price increases and broader inflationary pressures, the Galaxy does not operate with centralized deliveries from its suppliers to warehouses, but door-to-door deliveries to its stores. As a result, the increases coming from the suppliers in individual products, are delayed to be accounted for in time in all the stores, with the result that the sales are based on the old prices, while new prices have already come from the industry. This fact according to the specific sources is a significant factor of loss for the company and in essence is expected to be reflected in the bottom lines of the results for 2022.

New investments in photovoltaics

Another area of ​​investment for the Galaxy chain of stores is the addition of photovoltaics to its stores, something that had already begun to be implemented a decade ago, proceeding to the installation of photovoltaic systems at the same expense in privately owned points of sale. The planning at the moment concerns the installation of photovoltaics in 10 stores of the network, with the aim of further energy savings.

As for the turnover of the four months, the picture for the Galaxy is that it is kept at the same levels as in 2021, a fact that is due to the fact that prices have passed in the products and therefore the turnover appears to be increased.

In terms of sales volume the picture is estimated in this case to be declining. Recall that all supermarkets in April recorded a decline in sales in volume, which amounted to about 8% and is due to reduced consumption due to price increases that have passed on the shelves.