GERMANY: Edeka core sales up on discount units
German retail group Edeka revealed that its core sales rose 4.4% to EUR30.5bn during fiscal 2007, driven by double digit growth at its discount operations.
EBIT increased to EUR1.17bn, up 7%.
"We have significantly expanded our core businesses," Alfons Frenk, Edeka chairman, told journalists in Hamburg today (30 April). "The year 2007 was the most successful year in the group's100-year corporate history," Frenk added.
Revenues increased by EUR1.3bn, or 4.4%, to a total of EUR30.5bn.
The total turnover of the group rose by 1.8% to EUR37.8bn.
"We are very pleased with our performance and expect continued growth of the discount sector," a spokesperson for the company told just-food.
The company said that it intended to open an additional 1,000 outlets in Germany by 2010. During 2007, Edeka opened 350 outlets with a combined selling space of 400,000 square feet.
German retailer Rewe has confirmed that it will be opening 750 food stores throughout Germany by 2014....
German retailer Edeka today (23 October) insisted it is sticking by its plans to expand its network of supermarkets and discount stores throughout the country....
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