JOURNAL ARTICLE

Sonae Sees Growth in All Businesses as Grocer Faces Tougher Competition.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Almeida, Henrique 3 of 3

Abstract

Portuguese holding company Sonae SGPS SA expects all of its units to grow this year, despite facing tough competition in the supermarket industry. Sonae's biggest business, Continente, the country's largest supermarket chain, is under pressure to lower prices due to easing food inflation and competition from other chains. However, Sonae's Chief Financial Officer, Joao Dolores, stated that Continente is handling these challenges well and that Sonae is not currently looking to acquire smaller supermarket chains. Instead, Continente plans to increase sales by expanding its store network. Sonae has recently made acquisitions in the pet-care industry and remains open to analyzing other investment opportunities. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/05, pN.PAG
  • Document Type:Article
  • Subject Area:Economics
  • Publication Date:2024
  • Accession Number:177080916
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