German retailer Tengelmann, which owns the supermarket chain Kaiser, booked an increase in full-year sales but offered a cautious outlook for 2013.
In the 12 month period, Tengelmann recorded total revenues of EUR11.08bn, a 2.9% increase on last year. A third of sales were earned outside of Germany, it said.
Sales from its Kaiser chain were “stable” with revenues of EUR2.13bn. It didn’t report last year’s figure.
CEO Karl-Erivan W. Haub said: “Following the positive trend of the past fiscal year, the view for 2013 is cautious optimism. The catastrophic flood that affected a wide part of Bavaria and eastern Germany, Austria, the Czech Republic and Poland had massive consequences for the group. More than 80 branches were temporarily closed or damaged by the high waters. Sales losses also occurred in markets that could not be supplied due to the severe flooding.”