German Metro Group had to allow a 1 % turnover drop in its second quarter, because of its international activities. The German market provided the company with a turnover boost, but that was too small to compensate fully.
The German cartel office Bundeskartellamt has fined several supermarket chains for their share in a price fixing scheme. Edeka, Metro and Netto all kept the prices of several beers artificially high, while AB InBev is also mentioned in the investigation.
Turnover for German group Beiersdorf, parent company for Nivea among other brands, has dropped nearly 2 % in the first quarter. The company points to exchange rate fluctuations, which had a sizeable negative effect.
Schwarz Group invested five billion euro in 2015, which is a record for the company owning discounter Lidl and Kaufland. The majority of the funds went towards new store openings and an update for the current store network.
German furniture web shop Home24 plans to open its first physical outlet store in Berlin on 23 April. It will use the novelty to sell furniture it can no longer sell online, like items with small flaws.
German Metro Group has decided to split into a Wholesale & Food Specialist group and a Consumer Electronics group by mid-2017. The aim is to speed up the decision-making process, leading to more flexible and efficient companies.
Hudson’s Bay has plans to invest 1 billion euro in department store chain Galeria Kaufhof in the next five to seven years, according to CEO Jerry Storch's statements in German business paper Handelsblatt.
Aldi Süd has added an increasing number of name brands to its product range. After it had introduced Lenor, Coca-Cola and Leerdammer (among others), it will now add Wagner Pizza, Head & Shoulders and Pampers.
Leapp, which sells refurbished Apple products, aims to open another 4 stores in the current quarter and a whole range of additional stores later this year. This will continue the offline expansion at a rapid pace for a company that started as an online retailer.