As Edeka increases its stake in Picnic Germany and Edeka Nord announces its 2018 results, we round up news from the cooperative.
Edeka increases stake in Picnic Germany
Edeka Rhein-Ruhr, according to reports in Startup Detector, has raised its stake in Picnic Germany to 35%, from the 20% stake it held previously. Picnic continues to invest in expansion and its operations more widely, as it looks to grow scale in the German market. Picnic has previously stated it serves 35,000 shoppers in Germany, in the cities of Neuss, Düsseldorf and Mönchengladbach. However, the continued investment in Picnic is required as it is unprofitable and is set to remain so until 2020, when it expects to make a profit.
Edeka Nord generated turnover of €3.1bn in 2018…
Edeka Nord has said its consolidated sales reached about €3.09bn in 2018. Edeka Nord said its comparable sales rose 4.8% during the year, while total sales increased by 3.3% during the year. Its independent store owners opened 10 new stores and extended a further nine. At the announcement, Edeka Nord said it continued to grow in 2019, with sales rising by 2.4% in the first quarter.
…As Edeka Südbayern grows sales by 3.1%
Separately, Edeka Südbayern announced its sales had risen 3.1% to €2.59bn. Edeka Südbayern said its production division ‘impressed with above-average growth’, while the cooperative’s chief executive, Claus Hollinger, pointed to the positive effect of the converted Kaiser’s Tenglemann stores.