Mercadona to Invest Another €150 Million in Portugal

The Spanish supermarket chain plans to open nine more shops in Portugal in 2021, in a €150-million investment.

Following previous investments of €113 million in Portugal last year, Mercadona created 800 jobs in Portugal, ending the year with a team of 1,700 employees in the country. The company had a turnover of €186 million in Portugal in 2020, its first full year in the country, Jornal Económico reported.

According to a statement issued by Mercadona, “The forecast for 2021 is to open nine more shops in the country. To continue its expansion project in Portugal, the company will invest 150 million euros and recruit 500 people, always with open-ended contracts from day one.”

The company also stated that “it will continue to follow its 2018-2023 transformation plan and, for this, it plans to invest €1.5 billion in 2021 (150 million euros in Portugal), which it will mainly use to open 97 new supermarkets, 88 in Spain and nine in Portugal. [It will also} refurbish 88 supermarkets to adapt them to the new efficient shop model (‘Loja 8’); and implement the new ready-to-eat section in another 200 supermarkets.”

According to Jornal Económico, Mercadona increased its consolidated sales, not including new stores, by 5.5% in 2020 to 26.932 billion euros. In addition, it made a net profit of €727 million, up 17% y-o-y, after distributing €409 million in target-based bonuses and paying €364 million in taxes, an increase of 29%.