German-based cooperative group, Edeka, reported an increase in revenue by 3.1% to €46.2bn, at the end of its 2013 fiscal year.
Edeka’s independent merchants continue to grow
Edeka’s core business of just over 4,000 independent merchants revealed sales of €22.6bn, up by 5.8%. The cooperative model has triumphed with its entrepreneurial group contributing 82 new start-ups, which aided the rise in sales by 3.6% during 2013.
CEO of Edeka AG in Hamburg, Marcus Mosa, commented on this saying that the successful results demonstrates Edeka's increased strength in the German food market.
Netto performs above average
Netto, Edeka’s discount chain, delivered sales of €11.8bn, up 4.5% on 2012. Netto’s like-for-like sales rose by 3.5%, bolstering its position in the highly competitive German discount market.
During 2014, investment was made in the modernisation and expansion of the Netto branch network. A total of 250 stores were modernised during the year and 134 new stores were opened.
Investment of €1.7bn to be made in 2014
In 2013, Edeka invested €1.5bn in building a modern trading infrastructure. The retailer believes the success of Edeka’s results is down to continuous investment implemented year on year.
During the coming year Edeka plans on investing €20m in the modernisation of systems, the creation of new jobs and building the qualitative side of its product portfolio. It will continue to roll out its customised IT solution within its wholesale and retail network.
2014 will see Edeka strengthen its in-store experience for customers by developing further the quality of its dining experience. Driving this experience further will be cooking demonstrations, and wine tasting. Edeka wants to shift shoppers’ perception from one of a traditional retailer to an active local meeting point for customers.