Ricardo Álvarez (Dia): After the transformation, 97% of our stores are already profitable
The company, which is looking to open 300 establishments by 2029, is facing the refinancing of its debt in 2027.
Dia, a Spanish supermarket chain, aims to open 300 new stores by 2029 as part of its plan to regain a top 3 position in the country's distribution market. The company's CEO, Ricardo Álvarez, announced that Dia has completed its transformation process, which began in 2019 when LetterOne became the majority shareholder. Since then, the company has remodelled many of its stores, increasing the number of profitable locations from 35% to 97%, and doubling average sales per store.
Dia plans to refinance its debt in 2027, with a current net debt of €251 million and a goal to reduce it further.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
