Net sales

Greenyard sees same-store sales increase 1.2% in first nine months

Fresh produce company Greenyard reported 1.2% year-on-year growth comparable revenue from continuing operations for the first nine months of its fiscal year.

Sales amounted to 3.2 billion euros for the first nine months of the financial year, while third quarter sales on a like-for-like basis remained stable at 1.05 million euros. euros.

The company added that its performance in the first three quarters is in line with its expectations and its long-term goal of reaching 5 billion euros in revenue by March 2025.

Greenyard will discontinue the marketing of certain seasonal categories in the fresh segment, as it aims to focus on its strategy to improve the transparency of its supply chain, in order to meet its standards of sustainability and social responsibility.

It also hopes to see the result of the price increases put in place to contain inflation in the coming quarters.

Read more: Greenyard aims to become a ‘plant-based powerhouse’

Divisional performance

The company’s fresh division saw sales increase 0.9% in the first nine months, compared to the same period last year.

The Long Fresh unit recorded a 2.7% increase in sales over the first nine months, to 540.6 million euros.

The unit’s sales growth in the third quarter remained stable (0.5%) in the third quarter, compared to the same period last year, amounting to 199.5 million euros.

The company attributed the weaker sales growth in the third quarter to the temporary impact of supply chain disruptions and unavailability of labor.

Some of the company’s operations have been affected by COVID-19 quarantine measures in different countries, despite implementing safety and hygiene measures at its facilities around the world.

© 2022 European supermarket magazine – your source for the latest fresh produce news. Article by Dayeeta Das. Click on subscribe register for ESM: European Supermarket Magazine.