Spanish supermarket chain Condis expects sales to rise 5% to EUR703m (US$922.52m)this year, boosted by strong demand for its white-label brands. The chain reportedly plans to open 15 supermarkets in the coming year.
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The company, which bought 10 stores from rival Carrefour last year, reported a 7.8% revenue jump in 2006 as white-label sales soared 32%. Condis also invested EUR18m to grow its business, up 2.8% from 2005.
This year, the company will spend EUR20m to open the new supermarkets in the northeast region of Catalonia and Barcelona where it has a stronghold.
Condis competes head to head with other leading supermarket chains such as Carrefour’s Dia, Champion and France’s Auchan.
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