Kika stores taken over by XXXLutz

The anti-trust authority PMÚ okayed the acquisition of five Kika furniture stores in Slovakia by XLCEE-Holding. The latter owns retailers XXXLutz and Möbelix. It seems likely that the Kika stores will be rebranded to XXXLutz, as was done in Czechia. The Slovak Kika stores posted €1.5m in losses last year and its sales rose 6% to €36.7m. Möbelix posted a €1.9m net profit here last year, and its sales were up 4% to €49.4m.

(HN/1)