17.2 C
Bucharest
May 15, 2021
BUSINESS

Kaufland turnover reaches EUR 2 bln in 2015

Kaufland, the German discount supermarket chain that consists of 107 stores, reached a turnover of EUR 2 bln in 2015, according to ‘Ziarul Financiar’ estimates, after a very good month of December coming as a result of the lowering of VAT on foodstuffs in mid-2015. In 2014, the last year for which public data is available, Kaufland had a turnover of EUR 1.8 bln, after a 10 per cent year-on-year growth. Halfway through 2015, the two-digit growth was maintained, its turnover growing from EUR 830 M (RON 3.7 bln) to EUR 921 M (RON 4.1 bln), zf.ro informs.

In Romania, Kaufland’s turnover growth was backed by the opening of five new stores last year, by the lowering of VAT on foodstuffs from 24 to 9 per cent on June 1, and by the fact that some of the previously-opened stores reached maturity.

German retailer Kaufland, the leader of the Romanian food retail market, will open its 11th store in Bucharest at the end of this month, on the plot of land of the former Grivita brewery. The new store will have a sales surface area in excess of 4,000 square metres, a commercial gallery of almost 300 square metres and will open near Carrefour Orhideea. The French retail store was inaugurated at the end of 2003 and has a sales surface area of 8,500 square metres.

Related posts

Matsushita: Honda aims to acquire 1 percent market share in Romania

Romania improves its economic competitiveness performance

Nine O' Clock

Senate rejects amendment to Mines’ Law

Nine O' Clock