German retailer Globus Group closed its 2023/24 financial year with a ‘positive earnings performance’, as EBIT increased by 2.4%, year on year, in a difficult macroeconomic environment.
The company’s two units – Globus Hypermarkets and Globus DIY – reported increased operating sales during the year, it noted in a statement.
Matthias Bruch, a managing partner of the Globus Group, stated, “We are satisfied with our performance in the past financial year and have realised that the things that distinguish us, that set us apart from the competition, continue to prove their worth.”
Globus Hypermarkets
Globus hypermarkets saw a 6% increase in sales, in operational terms, excluding the effects of currency translation and fuel station sales.
Gross sales in the division, which includes Globus Markthallen Germany, Globus Hypermarkets Czechia, and Globus Hypermarkets Russia, declined by 2.3%, to €7.6 billion.
Bruch added, “With tangible in-house production directly on site, in conjunction with a special price-performance ratio, variety in the product range, tangible customer focus [...] Globus hypermarkets define a unique category in the food retail sector that cannot be copied, with a high level of attractiveness and special resilience.
“We pursue the local-hero approach across all countries, with the aim of maximising performance for the local customer, and thus be the most popular and most-visited shopping destination in the location.”
Other Highlights
In Czechia, the company saw double-digit growth in sales, driven by in-house production.
In Russia, the retailer is focusing on its core business – the manufacturing and sales of food products.
In 2023, Globus hypermarkets witnessed the strongest growth among all German food retailers, according to GfK.
The company aims to expand into new operations based on its core competencies in artisanal production, product range diversity, local products and customer service, to raise them to the level of its core businesses.
In addition, the group has decided to sell four of its hypermarkets.
