Germany’s largest food retailer is increasing its sales significantly. According to Edeka, it is facing challenges for the current financial year.
Edeka also recorded strong growth in the second year of Corona. The sales of the cooperative association rose by 4.7 percent to 34.7 billion euros, as can be seen from the figures presented in Hamburg.
Accordingly, the turnover of the low-cost chain Netto Marken-Discount increased by around one percent to 14.7 billion euros. Overall, the Edeka group, with over 11,100 stores and around 405,000 employees, increased its sales volume by 2.9 percent to 62.7 billion euros.
According to the information, 2.2 billion euros were invested in the company’s own trading infrastructure last year. For the current year, 2.8 billion euros are planned for this, explained Markus Mosa, CEO of the Edeka headquarters. “What we generate at Edeka flows back into the business and thus benefits Germany as a whole – and not anonymous investors.”
In the current financial year, there are challenges, Mora said, especially in view of the Russian war of aggression in Ukraine and the associated exploding energy prices as well as the further increase in inflation.
“However, rising consumer prices must not be used as an alibi for industrial groups to maximize their returns with excessive price demands,” emphasized Mosa. Edeka will therefore avert avoidable price increases in negotiations with the manufacturers. Unavoidable price increases should not only be imposed on consumers, but should be distributed along the entire value chain.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
