The retail group Tengelmann Twenty-One KG closed the 2021 financial year with a small increase in sales. On Tuesday, the group of companies, which includes the textile discounter Kik and the DIY chain Obi, announced that it was able to generate sales of 8.4 billion euros last year. This corresponded to an increase of 0.8 percent compared to 2020. According to the group, it also achieved a “positive annual result”.
The retailer was satisfied with the results presented: “The Tengelmann Group was able to stabilize its market position in another year marked by a pandemic and thus demonstrate its resilience to crises,” says a statement. In a market environment that was “characterized by far-reaching and long-lasting lockdowns and access restrictions”, “all business areas, including those active in brick-and-mortar retail, held their ground well”. For example, the sales development at the retail chain Kik was “satisfactory overall” despite temporary branch closures as part of the corona protection measures.