Globus retail group with sales growth
The Globus retail group has also increased its turnover due to the expansion of its store network. As the company based in St. Wendel, Saarland, announced on Wednesday, sales in the 2022/23 financial year (ending June 30) rose by 11.4 percent to 9.82 billion euros compared to the previous year. The number of Globus stores grew by 9 to 101 with the integration of former Real stores and new openings. The integration of a total of 16 former Real stores within three years has now been completed.
Operating earnings before interest and taxes (EBIT) rose by a good 73 percent to 486.2 million euros. This includes a special effect of a good 196 million euros from the realization of hidden reserves for five locations as part of a finance lease. There was no information on net profit.
The DIY stores maintained their sales at the previous year's level (plus 0.3 percent) despite rising energy prices and a growing reluctance to spend. Strong demand for solar balcony power plants as well as fuels and stoves contributed to this.
Globus is one of the largest family-owned companies in the German retail sector. The company offers its employees the opportunity to participate financially in the company. Around half of all employees make use of this by purchasing shares in the company, Globus announced.
The Globus retail group examines its performance quarterly, with the recent figures showing an 11.4% increase in sales for the 2022/23 financial year. The company's trading activities have resulted in a significant growth in turnover, attributed partly to the expansion of its store network.
Source: www.dpa.com
