According to the filing submitted to the National Securities Market Commission (CNMV), Dia has transferred its operations in Argentina to De Narváez Group, a holding company specializing in retail with business in Ecuador and Argentina. In the latter, it operates the ChangoMás supermarkets, which previously traded under the Walmart brand. The price amounts to 53.8 million dollars, approximately 47.8 million euros. However, the transaction entails a 100-million-euro hit to Dia’s balance sheet, “resulting from the difference between the book value of the stake in Dia Argentina and the sale price agreed within the framework of the operation.”
The group justifies its exit from Argentina by pointing to a 20% drop in sales across the country’s supermarket sector as a whole. In the twelve months leading up to June 2026, the subsidiary recorded accounting losses of 54 million euros and had consumed 14 million in cash, as disclosed by Dia, which now concentrates its core business in the 2,400 stores it operates in Spain (around 800 of which are company-owned) after exiting Portugal, Brazil, and Argentina.
