Portuguese retailer Jeronimo Martins is to rebrand its Feira Nova hypermarkets under the Pingo Doce banner.
The firm confirmed today (17 February) that it has decided to concentrate its efforts on the company’s two remaining divisions – Pingo Doce and Recheio.
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Pingo Doce is Jeronimo’s supermarket chain, while Recheio is the company’s cash-and-carry operation. The company said it would convert the Feira Nova stores over the coming year.
Despite, a 6% rise in sales in 2009, boosted by a strong fourth-quarter performance, the firm said it will continue with the conversion.
“Feira Nova as a brand is going to disappear by the end of 2010,” a spokesperson told just-food. “Jeronimo Martins believes that they have two very strong brands in Pingo Doce and Recheio. So the company has decided that they want to concentrate all their efforts on these two brands and, so, the company will transform the nine Feira Nova hypermarkets in a gradual process over the year.”
The firm said that the first two stores to be revamped will be in Sinitrii and Braga, which will see a reduction in space from 9,000 sq m to 5,000 sq m. No other stores will be reduced in size.
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