Netto Boosts Dansk Supermarked Performance

One of Scandinavia's leading retailer's, Dansk Supermarked, published their full year financial resu…

One of Scandinavia's leading retailer's, Dansk Supermarked, published their full year financial results last week, showing a sales rise of 1.3 billion kroner.

According to the financial statement of the company, revenue for 2013 came in at 56.9 billion, up from 55.6 billion the year before.

Dansk Supermarked's impressive growth is being credited to the performance of their heavy discount brand, Netto.

"In Dansk Supermarked we maintain our strategy of becoming the leading retailer in all our concepts in terms of customer satisfaction, financial performance and employee satisfaction," says CEO Per Bank in a statement.

The other two food retail brands within Dansk Supermarked, Føtex and Bilka, saw solid sales growth "in spite of the fundamental challenges in the supermarket segment in Denmark."

This growth trend is expected to continue in 2014, albeit at a slower pace. The group said that non food sales have remained under pressure in 2013 because of the growth in online competition.

In January 2014 the Danish shipping giant AP Moller-Maersk announced that it would sell most of its stake in Dansk Supermarked to Salling funds.