Research and Markets(http://www.researchandmarkets.com/research/40d9d7/spain_food_and_dri) has announced the addition of the "Spain Food and Drink Report Q3 2011" report to their offering.
Over recent quarters there have been some signs of improvement within the Spanish grocery sector, with food retail sales growth back in positive territory. However, we continue to see limited scope for growth in private consumption. Ultimately, high unemployment, falling real wages, a large stock of private sector debt and fiscal austerity will keep consumers focused on deleveraging rather than spending for the foreseeable future, particularly as taxes on consumption have been pushed up to help bring down Spain's deficit. This means we see very little chance of another consumption-led boom over the next five years and see the environment continuing to favour price-focused retailers and cheaper food and drink options over most of this period.
Headline Industry Data
- 2011 per capita food consumption = -0.05%; forecast to 2015 = +11.9%
- 2011 alcoholic drink sales = +0.3%; forecast to 2015 = 2.1%
- 2011 soft drink sales = +2.3% ; forecast to 2015 = +16.6%
- 2011 mass grocery retail sales = +2.3%; forecast to 2015 = +16.5%
Key Company Trends & Developments
Ebro share price affirms strategy; SOS investors not yet convinced by restructuring
Spanish olive oil producer SOS Corporacion Alimentaria has recently registered a profit of EUR8.1mn for the first quarter of its 2011 financial year. This is the firm's first quarterly profit for three years, and has been described by the firm as a 'reversal and normalisation of operational activity'.
Carrefour to spin off Dia discount business
In May 2011 Carrefour filed a plan with the Spanish regulator to spin off its European discount business Dia subsidiary in a stock market listing in Madrid that could value the unit at EUR4bn. Dia has said it plans to raise its store count to more than 8,000 by 2013, and forecasts that sales in emerging markets will grow to make up 30% of sales by that point, compared with 22% in 2010.
Companies Mentioned:
- Grupo Ebro Puleva
- Grupo Leche Pascual Alimentacin
- Campofrio Alimentacin SA
- SOS Corporacin Alimentaria
- Heineken Espaa SA
- Auchan
- Centros Comerciales Carrefour
- Eroski Group (Including Caprabo)
- Mercadona
For more information visit http://www.researchandmarkets.com/research/40d9d7/spain_food_and_dri.
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