DIA Q1 2021 Trading Update
April 15, 2021
Strong group Like-for-Like performance in January and February, continuing trends set in previous year, with full quarter comparison affected by Covid-19 stockpiling buying across all markets in March 2020
Group Net Sales impacted by fewer stores and currency effect in Brazil and Argentina, with resilient local currency comparative performances
Group Net Sales of €1.6bn on adverse currency effects and affected by comparison with extraordinary Q1 2020.
Key Highlights
- Strong Like-for-Like in January and February on improved commercial and operational performance.
- March performance affected by comparison with period of exceptional Covid-19 pre- lockdown stockpiling buying in 2020 in all markets.
- Increase of 9.2% in average basket size in the quarter offsetting 8.7% drop in tickets
- Euro performance impacted by the devaluation of the Argentinian Peso (-36%) and the Brazilian Real (-26%) compared to 1Q 2020. Group Net Sales increased 2.3% in constant euro basis.
- Brazil´s Like-for-Like performance resilient in the quarter.
Commenting on Q1 trading, Stephan DuCharme, Executive Chairman, said:
“DIA´s positive group Like-for-Like sales performance in January and February demonstrates that our modern proximity food offer remains compelling to our customers as we continue to operate in a complex environment created by Covid-19. Sales in March were in line with our expectations.
Comparing sales performance from March 2021 onwards will be challenging in our sector given the unprecedented surge in demand experienced by food retailers in 2020 as consumers around the world prepared for lockdown measures.
While current restrictions in all markets continue to support at-home consumption, we remain cautious about the post-Covid environment given existing uncertainties about the path to normalisation.”
