Edeka Minden-Hanover, part of Germany’s Edeka Group, has posted a 2.2% increase in sales to €7.89 billion for full-year 2016, according to results published by the retailer.
During the year, the group increased its capital expenditure to €330 million, with a total of 24 new stores opened, and 155 stores modernised and expanded. The group now consists of 1,491 stores, 73% of which are operated by independent retailers.
The year also saw Edeka Minden-Hanover rollout several new in-store food concepts, including 'Best Burger' and ‘eat happy’ sushi, which it is seeking to roll out further over the coming year, it said.
Kaiser's Stores
As of January, Edeka Minden-Hanover now incorporates 61 former Kaiser’s Tengelmann stores, boasting 2,500 employees; the ‘technical integration’ of which was completed in March.
According to Mark Rosenkranz, the chief executive of Edeka Minden-Hanover, the group is confident of being able to achieve a full revamp of the stores to Edeka branding by the end of this month.
"Cooperation with our new colleagues from Kaiser's Tengelmann has worked very well since the beginning,” he said. “We mutually benefit from our experience and strengths so that we can look very positively into the future together.”
Once the conversion is complete, Edeka Minden-Hanover will boast 180 stores in Berlin alone.
The group is confident that in the next three to five years, sales in the former Kaiser’s stores will increase by between 20% and 25%.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
