German retailer Edeka has posted growth of 3.8 per cent to €44.8 billion for full-year 2012. The co-operative grocer said its network of 4,000 independent retailers were the group's “growth engine”, providing sales growth of 6.4 per cent, totalling €21.3 billion, growing “significantly faster” than the market.
Edeka's wholly-owned stores saw a 0.5 per cent drop in sales to €8.3 billion, while discount subsidiary Netto Marken-Discount increased revenues to €11.3 billion euros, an increase of 5.2 per cent. The group said this puts it among the top three discount stores in Germany. 135 Netto Marken-Discount stores were opened during the year with 400 undergoing a revamp. Modernisation of stores is a priority for the year ahead said CEO Markus Mosa.
C + C, its wholesale business grew 3 per cent to €1.9 billion but the group posted a 4.6 per cent drop in overall food sales, to €41.6 billion.
The group has earmarked €1.6 billion for modernising its stores and developing retail infrastructure during 2013. This marks a 10 per cent increase on the amount invested in 2012.
Mosa said, “With €1.6 billion in 2013, we plan to invest again extensively in modern markets, IT and logistics to ensure long-term competitiveness.” (30 April)
© 2013 - ESM: European Supermarket Magazine by Sadhbh Connor
