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Eataly loses 30% of turnover in the year of the pandemic

And in Italy closes the store of Bari

Eataly closes 2020 with sales down by about 30 percent. The figure emerges from the Letter to the shareholders of Tamburi Investment Partners (TIP), the investment holding company with approximately 20% of the group controlled by the Farinetti family. "Eataly has suffered due to the very heavy constraints on the restaurant business found all over the world. The market part, constantly open to the public and the online activity, countered the drop in turnover, but only partially, given that about half of Eataly's sales in the world are made up of restaurants. Consolidated turnover has lost less than 30% and the greatest suffering on margins is found in the USA". 

Tip recalls that "during 2020 the shareholders have signed a first part of the capital increase, as already foreseen, and the balance is expected in 2021". Meanwhile, in Italy, the Bari location has been closed ("temporarily", we read on the website) from 22 March. The trade unions are worried: "In recent days we have had only verbal communication via telephone - says Marco Dell'Anna, regional secretary of Uiltucs Puglia - that the shop would have closed until April 6. The workers are in FIS (wage integration fund, the equivalent of layoffs) to zero hours. This implies a heavy cut in wages. Now we want to have a meeting to find out what are the real reasons for the closure and above all what are the prospects. We are perplexed and very worried ". In Bari, Eataly employs about 40 people.

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EFA News - European Food Agency
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