top of page

Retailers’ profits stagnated last year

Retailers’ financial results show that they are not to blame for last year's inflation spike. The five largest chains increased sales by 14% to €6.4bn and their net profit was flat at €316m. Market leader Lidl increased net profit 8% to €159m last year as sales rose 14% to €1.9bn. Kaufland, with the same owner as Lidl, increased net profit 2% to €88m on 12% sales growth to €1.5bn. Tesco saw net profit fall 24% to €57m, although sales grew 10% to €1.6bn. Tesco explains the drop in profits by a rise in energy prices from €22m to €36m. The retailers also increased wages, Lidl by 13% and Kaufland by a tenth.

The only retailer with a notable increase in profits last year was Labaš (+57% to €8.3m). On the other hand, the gross profit of local farms soared 87% to €350m. This year, farmers are unlikely to keep such high profits.


Comments


Táto správa je z Ekonomiky DNES, denného prehľadu najdôležitejších ekonomických správ zo Slovenska.

This news is from the Slovak Business News TODAY, one-page summary of all the important Slovak business news.

bottom of page