Russia, Ukraine and Bulgaria drove overseas sales growth at German retail giant Rewe in 2009, the company has told just-food.
Earlier this week, Rewe said turnover outside Germany grew by 2.9% to EUR16.3bn. Overseas sales outpaced domestic sales, which rose 2.6% to EUR34.6bn, even as Rewe’s food revenues in Germany were dented by fierce competition.
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A spokesman for Rewe told just-food yesterday (23 March) that Russia, Ukraine and Bulgaria were the retailer’s fastest-growing markets in 2009.
He declined, however, to give more details on Rewe’s performance in each market, insisting that the business would reveal more data when it announces its full financial numbers in June.
Rewe embarked on a store expansion drive in Bulgaria in 2009 and also built a logistics hub near the capital, Sofia. In Russia, Rewe announced plans to open 20 Biop stores in the centre of the country.
By the end of 2009, Rewe had 19 stores in Ukraine, 65 shops in Russia and 91 outlets in Bulgaria.
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By GlobalDataRewe is expecting record profits on an EBITA level in 2009, even after a year in which its domestic market was beset by economic problems and a fierce price war.
“The reason for a decline in the German food retail market is the fincancial and economic crisis.
Alone in the discount segment, Germany faced twelve price-cutting waves last year,” the spokesman said.
