German grocery retailer Edeka has booked an increase in full-year sales and said it plans to invest in expansion in 2012.
Total group sales in the 12-month period increased 4.7% to EUR45.6bn (US$60.3m), the company reported today (25 April). Full-year sales of its core food business grew 4.5% to EUR40.8bn.
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Edeka’s full-year franchise sales climbed 8.8% to EUR20bn, while like-for like sales grew 3.6%. Sales of company-owned stores, however, were down 3.1% to EUR8.36bn.
During the year, Edeka opened 190 stores, increasing its network to 11,816 stores.
“The model of the entrepreneurial company works as good as ever,” said Edeka CEO Markus Mosa. “Our 4,500 independent traders have exceeded the 2011 mark of EUR20bn and thus laid a record year. In 2012 we will invest around EUR1.4bn in the expansion and modernisation of our commercial infrastructure.”
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