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Germany: Edeka to expandEdeka has announced plans to open hundreds of new outlets in Germany, even as it reported strong growth for its last fiscal year.
The retail giant said it plans to open 400 new outlets in 2012, in a move that will create more than 4,000 new jobs. CEO Markus Mosa said the expansion will see the group invest nearly €1.4bn, and will include the modernisation of its commercial infrastructure.
The announcement came after Edeka said sales for its last fiscal year rose by a solid 4.7% to €45.6bn, which it attributed to its full-range supermarket division. It also noted that independent retailers saw sales top the €20bn mark for the first time. Meanwhile, Netto Marken-Discount posted a sales increase of 3.3% to €10.7bn.
During the year, Edeka opened more than 190 new retail outlets, which helped raise its sales area to more than 10 million sq. ft. for the first time. The group transferred 75 full-range stores to independents.
Publication date: 4/27/2012
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