All Germany articles – Page 16
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News
Metro Group appoints new chief executive
Metro Group has appointed Olaf Koch as its new chief executive from January 1, 2012, and Franz Markus Haniel as chairman of the supervisory board with immediate effect. Koch has served as chief financial officer of Metro Group since September 2009. Current chief executive Dr Eckhard Cordes revealed in October ...
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News
Metro Group appoints new chief executive
Metro Group has appointed Olaf Koch as its new chief executive from January 1, 2012 and Franz Markus Haniel as new chairman of the supervisory board with immediate effect. Koch has served as chief financial officer of Metro Group since September 2009.Current chief executive Dr Eckhard Cordes said on October ...
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Analysis
Aldi Nord last to act in European store revamp
German hard discounter Aldi Nord is about to embark on the biggest investment programme in its history, with plans to refurbish the entire European estate.
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News
Sale of Galeria Kaufhof in the offing
A sale of Metro-owned department store chain Galeria Kaufhof could be in the offing, as local press reported interest from billionaire Greek investor George Economou.Meanwhile, Nicolas Berggruen, owner of rival department store chain Karstadt, has also tabled a bid, according to reports. It is not known whether Berggruen is interested ...
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News
Metro halts sale of Real hypermarket operating division
Retail conglomerate Metro has called a halt to the sale of its Real hypermarket operating division for the time being. The plans have been put on hold because of the resignation of Metro chief executive Eckhard Cordes, according to reports.Until recently, UK-based private equity firm Apax Partners had been in ...
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News
Aldi Nord to embark on major investment programme
Aldi Nord, the more austere of Aldi’s two main operating companies, is about to embark on the biggest investment programme in its history with plans to refurbish all its European stores.A model unveiled in the Belgian town of Ghent is to serve as the blueprint for the new store design. ...
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News
Schlecker to close inefficient stores
Drugstore operator Schlecker plans to complete the closure of inefficient stores within the next five to six months as part of its strategy to return to profit by 2012.The retailer believes the move will cut out a 7% to 9% chunk of sales revenue that it regards as unprofitable. Schlecker ...
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News
Decrease in revenue at DIY retailer Praktiker
DIY retailer Praktiker has revealed revenues dropped 7% to E844m (£735m) for the third quarter ended September 30.Like-for-like sales were also down 7%, while revenues of the Praktiker banner in Germany fell 9%. However, its domestic Max Bahr banner reported revenues increased by 3%. International revenues continued to decline, particularly ...
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News
Lidl changes expansion criteria in Germany
Schwarz Group-owned discounter Lidl is changing the criteria for expansion in Germany, defining higher sales targets and a larger catchment area for new stores. The new measures foresee a minimum turnover per store of E5m (£4.4m), which is higher than the estimated average of E4.9m (£4.3m) for its existing network.To ...
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News
Eckhard Cordes resigns from Metro
Eckhard Cordes, chief executive of retail group Metro, announced that he will be resigning from his post by October 31, 2012. He has lead Metro since 2007 and will be a member of the supervisory board until his successor is found.
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News
Hugendubel bookstore chain launches company’s first e-reader
Publishing company Weltbild and its Hugendubel bookstore chain have launched the company’s first e-reader. The eBook Reader 3.0 sells for E60 (£52), compared with E99 (£86) for Amazon’s Kindle, and has a colour display and capacity to hold 2,000 books. The company offers more than 120,000 e-books for download.
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News
Penny plans revision of store network
Rewe Group-owned discounter Penny has plans to revise its store network in Germany, forecasting the closure of 120 to 140 stores during the next year. According to reports, nearly half of the approximately 2,400 stores are currently in the red. As for the remaining network, Rewe Group reportedly wants to ...
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News
DIY operator Hornbach reports net sales increase
DIY operator Hornbach reported net sales up 7.5% to e1.78bn (£1.53bn) for the six months to August 31. Total second-quarter sales rose 3.9% although net income was down 8.3% to e50m (£44.3m). Like-for-like sales dipped 0.2%. Hornbach’s international business was its main revenue driver, with second-quarter sales up 7.3%at its ...
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News
Edeka plans store openings in 2012
Grocery operator Edeka says it plans to open about 200 new full-assortment stores in 2012, maintaining its expansion pace of the past two years. The company will invest about e1bn (£860m) next year in the expansion and modernisation of its store network. Most of Edeka’s full-assortment stores are operated by ...
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News
Celesio reports first-half sales decrease
Drug distributor and pharmacy operator Celesio reported first-half sales down 1% to E1.75bn (£1.5bn) in its retail division, which includes Lloydspharmacy in the UK and DocMorris on the continent. The division’s pre-tax earnings fell 25.6% to E102.1m (£88m). The company attributed the decline to government measures and a fall in ...
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News
Metro Group posts first half results
Metro Group has posted results for its first half, showing that sales rose by 0.1% to E31.3bn (£27.1m) compared with the previous year. In local currency, sales grew by 0.2%. Net profit for the period, before special items, reached E83m (£72m) compared with E127m (£110.2m) in 2010.Sales in the international ...
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News
DIY retailer Bauhaus launches drive-through concept
DIY retailer Bauhaus has launched a drive-through concept, which has been rolled out at its major stores.Customers can drive through a special area of the store designed to accommodate cars and small vans, and will be directed to the relevant products.Mobile scanners are used for checkout and staff members are ...
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GalleryIntersport Stähle, Bad Dürrheim
German sports retailer Intersport Stähle’s store in Bad Dürrheim is an example of how a large store can be transformed by a makeover and the thoroughly impersonal made personal.
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News
Drugstore operator Rossmann reports revenue growth
Drugstore operator Rossmann reported revenue for the first half of 2011 grew 12% to E2.4bn (£2.1bn). Rossmann currently has 2,450 stores, of which 1,600 are in Germany and 850 are in Poland, Hungary, the Czech Republic, Albania and Turkey.The retailer plans to generate full-year revenue in excess of E5bn (£4.3bn) ...
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News
Metro Group prepares for sale of hypermarket chain Real
Metro Group is said to be preparing for the sale of its hypermarket chain Real with hopes of achieving R2bn (£1.7bn) for the company’s stores.Though the official sale process has not begun, investors including KKR, Apax and Apollo, as well as a French investor group led by former chief executive ...