Retail chain Kaufland saw its net profit in the Czech Republic rise by approximately Kc 147m yr/yr to Kc 3.4bn in the fiscal year ended on February 28, 2023, its sales rising by Kc 8bn to Kc72.9bn, according to the company’s annual report.
Along with supermarket chain Lidl, Kaufland is part of the German Schwarz group.
The company expects to develop its business activities in the coming period at approximately the same pace as in the previous period, the company said in its annual report.
Kaufland now operates more than 130 stores, two logistics centres and its own meat plant in the Czech Republic.
As of February 2023, the company employed 11,517 people in the Czech Republic, 25 more than a year earlier. Personnel costs amounted to Kc 6.7bn, up by about Kc 500m yr/yr.
Heiko Koch became Kaufland’s CEO in the Czech Republic last October. He replaced Stefan Hoppe, who had led the retail chain since autumn 2018 and is now a member of the Kaufland International board.
Kaufland entered the Czech market in 1998. It is currently number two on the domestic market behind Lidl CR, which has not yet published its financial results. Other large chains include Albert, Penny Market, Tesco and Billa.
Source: Kaufland and CTK
