Savegnago gets ready to earn US$ 581.4 million in 2010
Valor Econômico
Both founded in the municipality of Sertãozinho, in the region of Ribeirão Preto, the two biggest supermarket chains of the Interior of São Paulo, Savegnago and Gimenes, have followed opposite ways. Exactly one year ago, Gimenes shut down 22 of its stores, swamped in debt. For Savegnago, on its turn, 2009 was one of its best years ever.
For 2010, the chain, controlled by the brothers Sebastian and Antônio Savegnago - better known in the area as Chaim and Toninho -, foresees reaching R$ 1 billion (US$ 581.4 million) in earnings and grow in the interior of São Paulo, with the opening of three stores in the region of São Carlos. The company currently has 21 supermarkets in the Northeast region of São Paulo and foresees ending 2009 with sales of nearly R$ 800 million (US$ 465.1 million).
The results of the company in 2009, says Savegnago, were "very positive". The chain opened its first distribution center and adopted the centralized supply system, which will allow it to speed growth and cut costs. Two units were also opened in Ribeirão Preto and Batatais. Considering the 19 supermarkets in operation in 2008, the sales of Savegnago have grown 13% this year, well above the inflation, which should be nearly 4.3%. Grupo Pão de Açúcar, biggest retailer of the country, had an increase of 9.2% in sales (not counting the new stores) in the first nine months of this year.
With earnings of R$ 704 million (US$ 409.3 million) in 2008, Savegnago appears in 19th place among the biggest chains of the country, according to the latest ranking of the Brazilian Association of Supermarkets (Abras). In the State of São Paulo, regarding sales, the chain is only behind the three major national retailers that keep their headquarters in the capital - Grupo Pão de Açúcar, Carrefour and Walmart - besides Sonda, which has supermarkets in the Metropolitan Region of São Paulo.