MADRID (Reuters) - Spanish retailer DIA (MC:DIDA) said on Tuesday its net loss narrowed to 143 million euros ($154.48 million) in the first quarter, from a loss of 151 million a year earlier, helped by lower costs.
Core profit jumped to 61 million euros, from 17 million euros, as restructuring costs plunged 92%.
Net sales fell 2.1% to 1.70 billion euros, confirming the figure stated by the low-cost supermarket chain retailer in April, as the number of open stores declined and it suffered some negative forex impact in Brazil.
DIA, which was at the brink of insolvency last year before being rescued by Russian tycoon Mikhail Fridman, said it expects net sales of 7.0-7.5 billion euros in 2020 before reaching 8.7-9.3 billion euros in 2022.