Polish retailer Dino's quarterly profit misses forecasts as food-price deflation squeezes margins

Dino Polska

05/11/2026 18:26

Nov 5 (Reuters) - Polish discount grocer Dino Polska DNP.WA on Thursday reported third-quarter net profit of 483 million zlotys ($123.42 million), missing estimates of 492 million zlotys in a Reuters poll as food-price deflation and rising costs squeezed margins.
    Poland's grocery sector is experiencing price deflation, fuelling fierce competition for shoppers and weighing on profitability across the industry.

Dino's third-quarter core profit totaled 785.5 million zlotys, below the 803 million zlotys forecast in a Reuters poll of analysts.
Revenue of 9.71 billion zlotys narrowly beat the 9.69 billion zlotys forecast, although like-for-like sales growth slowed to just 0.1%.
The retailer added 256 stores in the first nine months of 2026, bringing its total store count to 3,283 at the end of September.
"The war in Ukraine and the conflict in the Middle East remain factors the company is monitoring, given their potential to disrupt agricultural commodity markets and push up food production and transport costs that could eventually be passed on to retailers", the company said in a statement.  
It added that "due to uncertainty regarding future economic conditions, the board's expectations and forecasts carry a high degree of uncertainty".
The chain, which generally locates its stores in smaller towns and rural areas, however, reaffirmed plans to increase store openings in 2026 by a low- to mid-teens percentage from the 340 stores opened in 2025. Capital expenditure is expected to be about 2.5 billion zlotys.

($1 = 3.9135 zlotys)

 (Reporting by Marta Maciag; Editing by Aby Jose Koilparambil)
 ((Marta.Maciag@thomsonreuters.com;))