ECONOMY

Vassilopoulos reports drop in turnover last year

Vassilopoulos reports drop in turnover last year

Leading supermarket chain AB Vassilopoulos on Thursday reported a 3 percent decline in turnover last year, to 2.1 billion euros from 2.17 billion in 2016.

The drop was attributed to continuing price and offers campaigns and the shifts in the sector that last year saw the reopening of the former Marinopoulos stores under the Sklavenitis brand.

Delhaize’s Greek subsidiary also announced investments of 90 million euros for this year, aimed at expanding its store network and its services.

Plans provide for sale points to increase from 414 today to 454 by year-end.

Vassilopoulos employs 14,092 people and has 2.4 million customers.

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