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Germany’s Globus Sees Sales Growth Of 3.2% In FY 2019/2020

Published on Oct 29 2020 7:59 AM in Retail tagged: Trending Posts / Germany / Globus / Paywall / Annual Report

Germany’s Globus Sees Sales Growth Of 3.2% In FY 2019/2020

German retailer Globus has reported a sales growth of 3.2% to €7.95 billion in its financial year ended July 2020, with EBIT amounting to €284 million.

Globus hypermarkets in Germany generated sales worth €3.38 billion in this period, up 0.3% year-on-year, driven by a change in consumer behaviour due to the pandemic.

Jochen Baab, spokesperson for the Globus SB-Warenhaus, explained, "The trend is towards 'one-stop shopping', weekly shopping and home cooking, which is reflected in the size of the average shopping cart and a low shopping frequency, especially during the lockdown.”

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