Despite rising prices and scarce deliveries, Edeka is increasing its sales significantly. The reason for the profit, which is above the forecast, is the increased gross profit at the discounter Netto.
The Edeka association increased sales by around 5.6 percent to 66.2 billion euros in the past financial year. The approximately 3,500 self-employed merchants of the cooperative organization achieved around 36.5 billion euros in their shops, as announced by the Edeka headquarters in Hamburg. That is 1.8 billion euros more than in the previous year.
In view of significantly rising prices and high inflation, the discounter Netto in particular has increased. According to the information, sales there rose by 1.1 billion to 15.8 billion euros.
Edeka did not provide any information on the profits of the independent merchants. 395.7 million euros remained in the head office – 44.8 million more than in the previous year. The reason for the profit, which is above the forecast, is the increased gross profit at the discounter Netto and higher income from investments in associated companies.
Edeka is the largest private employer in Germany
According to the information, the number of grocery stores remained almost constant at just under 11,100. Edeka describes itself as the largest private-sector employer in Germany. A total of almost 409,000 people were employed there last year – 4,000 more than in the previous year. At the end of 2022, the number of trainees at Edeka and Netto was just under 19,300, slightly below the previous year’s level, as not all training positions could be filled.
Thanks to the strong development, delivery failures in the brand industry could have been compensated for and the price level stabilized, explained Edeka. The CEO of the Edeka Central Foundation & Co. KG, Markus Mosa, called on “the brand industry to stop artificially inflating inflation”.
Source: Stern
