NORWAY: Reitan Gruppen lifted by Rema 1000, Reitan growth
The company said sales rose to NOK76.85bn (US$12.84bn) in the year to end-December, up from NOK71.54bn in 2012. Sales generated at the Rema 1000 banner rose to NOK53.42bn, up 12.4% year-on-year. Convenience sales rose 6.6% to NOK14.23bn.
Operating profit rose 16.7% to NOK3.04bn, while pre-tax profit increased 26% to NOK2.6bn.
Retail closing hour regulations, which required outlets with large turnovers to close by 20:00hrs Monday to Saturday and all of Sunday, were lifted in October 2012. This had a devastating impact on th...
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