Company spokesman Jiří Mareček said that profitability is less than 2.8 percent of sales. He also claims that Albert’s gross margin, the difference between cost of goods sold and revenue, has fallen.
According to him, the profit is higher due to investments in saving programs and increasing the efficiency of operation. Companies have, for example, invested in technologies to save energy and heat.
Retail chains have faced harsh criticism over rising food prices in recent months. This week they announced that they will increase food prices again from January, although they previously stated that they would reflect the reduced VAT on some types of food into the prices, which will start to apply from January.
Forget the promised discount. The chain will increase the price of food again from January
Last year, the profit of the competing chain Bill fell by approximately 30 percent to 458.87 million crowns. The company’s sales, on the other hand, increased from about 31.35 billion crowns to 33.7 billion crowns.
According to its annual report, Penny Market in the Czech Republic increased its profit year-on-year by 22 percent to about 1.2 billion crowns. The company’s sales rose by 15.5 percent to 48.7 billion crowns.
The net profit of the Tesco Stores chain for the financial year ending February 28, 2023 in the Czech Republic fell by 85.6 percent year-on-year to 113 million crowns. The company’s sales, on the other hand, increased by approximately 3.6 billion crowns to a total of 45.7 billion crowns.
The profit of the chain Lidl Czech Republic in the last financial year fell by six percent year-on-year to 5.18 billion crowns. The company’s sales increased by ten percent to 84.36 billion crowns. Lidl’s financial year also ended on February 28 this year.
Food prices went up by a fifth. Now it will jump another seven percent
2023-12-06 18:14:40
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