Selex’s turnover reaches 16.9 billion but inflationary pressures are worrying

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Also in 2021 Selex is confirmed as the second Italian chain of large-scale distribution with sales of 16.9 billion, + 4.3% on the previous year, while in the first 4 months of 2022 the Group’s turnover grows by another + 3.2%. An investment plan worth 460 million has been launched for 95 new openings and the creation of approximately 1,300 jobs as well as the renovation of a hundred points of sale. These are the values ​​approved by the last shareholders’ meeting, 18 family businesses, of the commercial group which owns a market share of 14.6%. «We are satisfied with the results obtained, but also aware that we are sailing in a very stormy sea – is the premise of Alessandro Revello, President of Selex Commercial Group -. In recent months we have worked to defend the purchasing power of consumers, trying to put a stop to the increases resulting from the inflationary pressure. A responsibility shared by all the Members and which I hope will be equally shared by all the players in the supply chain, because otherwise we will see a sharp drop in consumption. Supporting the purchasing power of families is not just a social duty but a primary objective for those who daily experience the difficulties of their customers. The next few months will be very critical and I hope that the institutions will intervene to help the weakest sections of the population ». The crux is rising inflation, which shows no signs of slowing after Easter. Thus, in the first part of the year, the Selex distributor brand registered a + 8%. The partnership with the ESD Italia purchasing center and the EMD international center is consolidated. Collaboration with them will be further strengthened in the coming months. Finally, the trend of the Cash & Carry channel is very positive, benefiting from the restart of consumption outside the home and registering a growth of 37.6% in the first 4 months of 2022.