The discounter Kik Textilien und Non-Food GmbH was able to significantly increase its sales in the 2022 financial year. This emerges from the annual report of the parent company Tengelmann Warenhandelsgesellschaft KG, which was recently published in the Federal Gazette.
Accordingly, Kik’s sales rose by 23.6 percent to around 2.21 billion euros compared to the previous year, which was still heavily influenced by the effects of the Covid-19 pandemic. On a comparable basis, sales in the company’s own branch network grew by 22.9 percent.
Kik had 4,130 stores as of December 31, 2022, 83 more than a year earlier. Of these, 2,527 were in Germany and 1,603 abroad. The retail chain’s first branches in Portugal and Spain were among the new openings last year.
The discounter is benefiting from the expiration of the Corona protective measures
The company’s overall conclusion was cautious: “The sales development at Kik was mixed in a challenging environment, with the important fourth quarter being weaker than planned, among other things due to the high temperatures in October and early November,” says the annual report. “Kik was still able to significantly increase sales due to the measures in place last year to contain the corona pandemic.”
Thanks to the strong growth at Kik, the Tengelmann Group’s consolidated sales rose by 3.0 percent to 8.6 billion euros. At the DIY store chain Obi, revenue fell by 1.4 percent to 6.07 billion euros, not least due to the cessation of business activities in Russia in mid-March 2022, while at the online retailer Babymarkt they were slightly above the previous year’s level at 216.0 million euros (+ 0.1 percent).