LH International

REWE GROUP Penny Market in Czech Republic sees profit drop but sales skyrocket

Rewe Group-owned Penny Market saw net profit drop from CZK703.7 million (USD34.61 million) in 2007, to CZK605 million (USD35.38 million) last year in the Czech Republic. 

METRO GROUP interested in takeover of Karstadt department stores

Germany-based Metro Group plans to buy 121 Karstadt department stores owned by competitor Arcandor. Metro Group’s CEO, Eckhard Cordes, wrote to German Economics Minister Karl-Theodor zu Guttenberg last week saying Metro is seeking talks about a solution that would safeguard the future of the department stores, including co-operation arrangements and a possible merger between Arcandor's Karstadt and Metro's Galeria Kaufhof.

METRO GROUP denies Karlstadt acquisition speculation

German retailer Metro Group has no plans to acquire Arcandor’s department store Karstadt, CEO Eckhard Cordes said at the company’s AGM. Cordes said it isn't considering a merger of its Kaufhof department stores with Karstadt and that Metro isn't conducting talks with Arcandor Chief Executive Karl-Gerhard Eick.ALDI Germany to expand DC in Bous

 

Aldi Süd in Germany has expanded its distribution centre in Bous (Saarland) from 13,500 square metres to 49,000 square metres, Lebensmittel Zeitung reported.REWE Penny Market completes TENGELMANN Plus-Discount acquisition in Czech Republic

Rewe-owned Czech discount operator Penny Market has acquired rival Plus-Discount, Penny Market Director Martin Peffek said. Through the acquisition Penny Market has become a dominant player in the local market, increasing its overall outlet number to over 300