Discount Retail Chain Netto Germany (owned by the Danish Salling Group), recorded a sales increase of 10% to 1.25 billion euros (US$1.5 billion) in the 2020 financial year (2019: 1.15 billion euros, US$1.4 billion). The store network is to be expanded over the next few years.
Netto ended 2020 with a very positive business development, says Netto CEO Ingo Panknin. “Fortunately, we achieved significant and sustained growth by converting our stores to the new store concept. Effects created by home office and closed catering also contributed to this. "
Around half of the 342 Netto stores have already been converted to the new concept. The restructuring of the missing stores should proceed quickly. The discounter announces that the focus for the coming years will be on expanding the store network.
In order to further improve the service for its customers, Netto agreed on a cooperation with Amazon last year and will gradually build up the so-called Amazon Locker in selected markets.