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ITM reports 6.4% sales increase over 2008

French retailer ITM has announced record results for 2008, with sales increasing by 6.4% to reach EUR34.8 billion (USD50.92 billion). Sales in France reached EUR31.2 billion (USD45.65 billion), up 6%, with sales at Intermarché improving by 6.3% and Netto by 9%. For the rest of Europe, sales rose to EUR3.6 billion (USD5.26 billion), up 9.5%. Commenting on the results, Michel Pattou, President of ITM has said that "in contrast to the hypermarket chains, we were not penalised by bad non-food sales". However, the retailer's specialist outlets were less successful: Bricomarché sales stagnated and grew by just 0.7% to reach EUR1.9 billion (USD2.78 billion), Vêti sales declined by 10% to EUR188 million (USD2.750) Roady decreased by 2.9% to EUR240 million (USD351.18 million). Only Restaumarché maintained a decent growth of 3.7% with turnover reaching EUR64 million (USD 93.64 million). Despite the crisis, Pattou envisages a sales progression of 5% in 2009 "if sales continue in the same vein as the beginning of 2009. Last week, the company registered a double figure growth". This year, ITM want to modernise their stores and change their visual identity. The new branding was created by design agency Carré Noir and was agreed to by the group's 3,100 independent owners. International sales grew by 9.5% to reach EUR4 billion (USD5.85 billion).

www.planetretail.net

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