Germany's Edeka saw its sales rise 2.7 per cent to €48.4 billion last year, according to accounts just filed, with the group opening 165 new supermarkets in the period.
The group plans to invest around €1.7 billion in capital expenditure in 2016, as it seeks to refurbish its Netto discount portfolio, which saw its sales rise 2.8 per cent last year to €12.4 billion.
The discount format saw 134 new stores open last year.
According to Lebensmittel Zeitung, Edeka chief executive Markus Mosa is targeting growth of 'at least two per cent' for the coming year, with investment in improving its logistics and store operations.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
