(Boursier.com) — The food store brand Ecomiam fell by 2.6% to 3.40 euros this Friday, while the group achieved in the 4th quarter of its 2022-2023 financial year a store turnover of 8.6 ME, down 5.9% (- 5.5% at constant sales area). The development reflects in particular less frequentation of stores during the summer, unpredictable weather which slowed down sales of grilled products and strong inflationary pressure which weighs on the purchasing power of consumers.
The annual turnover reached 40.3 ME, an increase of 8.3% compared to the previous financial year (+4.9% at constant sales area) and ecomiam anticipates a slight improvement in the gross margin.
During the financial year, the brand benefited from the opening of 6 new stores, which made it possible to compensate for the closure of 7 stores that did not offer sufficient development prospects. If the brand opened 1 new point of sale in Brittany, 80% of the openings concerned conquered territories (2 in Pays de la Loire, 1 in Normandy and 2 in Occitanie).
The network is made up of 67 points of sale as of September 30, 2023 but the opening of 6 new points of sale is already scheduled in the coming months and a grouping to optimize profitability.
“Following this disappointing publication, we are awaiting contact with management to lower our estimates (the solid level of gross margin does not compensate for this decline in activity in Q4)” comments Portzamparc…
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