Page 2 T O M NEWS April <strong>2024</strong> EDEKA breaks through 70 billion euros in sales In a challenging market environment, the EDEKA cooperative network can look back on a positive business performance in 2023. Total sales across all divisions rose by 6.7 percent to 70.7 billion euros, exceeding the 70 billion euro threshold for the first time. Woolworth only opened its 600th store in Germany in June 2023. Less than a year later, on April 25, <strong>2024</strong>, store number 700 will follow. The company is continuing its expansion course and believes in the future of bricks-andmortar retail. With affordable everyday items, the discounter appeals to a broad target group, primarily price-sensitive shoppers. The retail concept enables Woolworth to grow further. Within a year, the discounter has opened more than 100 stores in Germany. On April 25, the company celebrates the opening of its 700th store. The milestone store is located in the Linden-Center in Berlin-Neu-Hohenschönhausen. Woolworth operates over The EDEKA Group can look back on a successful financial year. Photo: EDEKA / Thomas Schinde The core business area of the EDEKA Group is the 6,700 stationary supermarkets and hypermarkets, most of which are operated by around 3,400 independent retailers. In 2023, they once again demonstrated their ability to adapt creatively to changing market conditions. Over the course of the year, EDEKA entrepreneurs generated sales of 39.3 billion euros (+ 7.7 percent), with like-for-like sales up by almost five percent. In line with the cooperative‘s mission to promote entrepreneurship within its own ranks, the EDEKA wholesalers handed over a total of 91 self-managed stores into the hands of independent traders, 45 of them to start-ups. Over the course of the year, 122 young entrepreneurs took the step into selfemployment with their own EDEKA store. Over the past five years, the total number of start-ups amounted to 538. 30 other stores in the German capital. „We have 700 stores in Germany, are continuing to expand our international store network and are extending our logistics complex and head office. So we are growing in many ways and bucking the industry trend,“ explains Roman Heini, CEO of Woolworth. „In Germany, we see potential for more than 1500 stores. We are moving quickly towards this Netto Marken-Discount also continued to develop dynamically and increased its sales to 17.1 billion euros in 2023, an increase of 8.5 percent compared to the previous year (+ 7.5 percent on a like-for-like basis). In 2023, 116 new Netto stores were opened across Germany and 450 locations were modernized. The group increased its investments in retail infrastructure in Germany: a total of around 2.8 billion euros was invested in IT, logistics, the expansion of production capacities and the opening of modern stores across the group. With 249 new retail locations, EDEKA (133) and Netto Marken-Discount (116) maintained their high rate of expansion. The total sales area of all 11,<strong>04</strong>8 stores increased to 12.1 million square meters (+ 1.1 percent). Investments of around 3.1 billion euros are planned for the current financial year. Woolworth reaches next milestone - already 700 German stores Woolworth is expanding significantly and will soon open its 700th store. Photo: Woolworth goal.“ The company has recorded sales of well over one billion euros and is continuing its growth course in Germany and other European countries. Woolworth has been active in Austria and Poland since 2023. Further countries will be added next year. The retail chain plans to operate 5000 stores in Europe. The discounter is headquartered in Unna, Westphalia. Ex-Kaufhof Supervisory Board Chairman Beetz also becomes new Galeria co-owner In addition to the US investment company NRDC Equity Partners, the entrepreneur Bernd Beetz will also acquire a stake in the insolvent department store chain Galeria Karstadt Kaufhof. The two companies would therefore form a consortium.NRDC and Beetz, who is president of third-division soccer club SV Waldhof Mannheim, did not respond to requests for comment. Retail sales in the eurozone fall more sharply than expected Retail sales in the eurozone fell more sharply than expected in February. They fell by 0.5 percent month-on-month, as reported by the European statistics office Eurostat in Luxembourg on Friday. Economists had expected an average decline of 0.4 percent. According to revised data, sales had stagnated in January. An increase of 0.1 percent had initially been calculated. Purchasing power <strong>2024</strong> in Germanspeaking countries: Austria the biggest winner With an average per capita purchasing power of EUR 52,566, the Swiss will once again have significantly more money available for spending and saving in <strong>2024</strong> than the inhabitants of neighboring Austria and Germany. Austrians have a per capita purchasing power of EUR 29,266, while Germans will be able to spend an average of EUR 27,848 this year. However, the new GfK Purchasing Power Study <strong>2024</strong> shows that there are significant regional differences in terms of net disposable income not only between countries, but also within each country. According to GfK‘s forecast, the purchasing power of Switzerland‘s more than 8.8 million inhabitants will amount to a total of 463.4 billion euros in <strong>2024</strong> (excluding Liechtenstein). In Austria, the more than 9.1 million inhabitants will have a total purchasing power of around 266.5 billion euros, while the total purchasing power
Page 3 T O M TOP STATEMENT OF THE MONTH April <strong>2024</strong> TOP STATEMENT April „In the retail real estate industry - and not only there - there is always talk of crises. This is not really correct, because it suggests that things will be the same again after a crisis. It would be better to talk about changed framework conditions.“ Sebastian Schels, Managing Partner of RATISBONA Handelsimmobilien, Regensburg
Change language