DIA to close more than half its stores in Brazil
Spanish grocery group DIA is to close 343 of its stores and three warehouses in Brazil, after the company ended last year with a negative result of a EUR 154m loss because of heavy promotional spending in the South American country, forced by fierce competition. DIA has around 600 stores in Brazil and wants to concentrate on the Sao Paulo region, where it will operate 244 stores.
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