German discount chain Kik increased its net profit in the Czech Republic by more than half year-on-year to CZK 219.7 million. The company’s sales fell by about CZK 24m to CZK 2.7bn, according to its annual report.
By the end of 2021, the company had 224 branches in the country. Last year, it opened five new branches in Prague, Bohumín, Jihlava, Jeseník and Ovčary in the Central Bohemia region. Kik closed three outlets in 2021, in Prague Michle, Liberec and České Budějovice, the report said.
Kik employed 1,024 people in the Czech Republic in 2021, down 70 people year-on-year. The company’s wage costs rose by about CZK 10m to CZK 467m, according to the annual report.
Kik is under the parent company Kik Textilien und Non-food GmbH and focuses on the sale of women’s, men’s and children’s clothing and accessories. Another discount chain in the Czech Republic is the Polish Pepco. It increased its net profit in the Czech Republic by about 18 per cent year-on-year to CZK 657.9m in the last financial year, which ran from October 2021 to September last year. The firm’s sales rose about 44 percent year-on-year to CZK 7.2 billion.
Source: Kik and CTK
