Billa speeds up Slovak expansion

Billa speeds up Slovak expansion

Published at: 2017-04-20 10:44 | Author: CIJ Journal
Billa plans to open 12 new supermarkets in Slovakia in 2017, accelerating its expansion from 2016 when it opened just eight new stores. Revenues increased to €495m last year, up by 5 percent y-o-y, but net profit was cut in half to €2.2m according to the Billa’s 2016 annual report thanks in part to the necessity of creating a financial cushion ahead of a negative re-evalution of its properties. The company’s operational profit rose. In Slovakia, Billa invested €16.4m into new stores and into modernizations of some of its existing ones. In 2017, another 12 stores should get a facelift. Billa plans to open new stores in Žiar nad Hronom, Košice and Nitra and in the Blumental complex in Bratislava. Two of the planned new supermarkets will be in shopping centers, taking over the units left by Hypernova in Centrum in Nitra and Atrium Optima in Košice.

Similar Stories:

Lidl tops retail sector in Croatia
With more than 90 stores and turnover of €540m, Lidl has taken the top spot on the retai  »
AFI breaks ground on Brasov commercial center
AFI was recently granted a building permit and started work on a commercial center in Bras  »
Mall Group taking over Košík.cz
Mall Group, operator of one of the largest Czech e-shops, is taking over grocery e-shop Ko  »
Hines acquires shopping center in Munich
Hines has acquired the Mira shopping center in the north of Munich on behalf of a German s  »
Vapiano, the Italian casual dining concept, is coming to Quadrio in downtown Prague. This   »
Construction is underway on a new shopping mall on the east bank of the Spree in Berlin, w   »
The sector report growth across Europe, driven by low inflation, an increase in employment   »
At the end of March, the country’s modern retail stock totaled 11.2 million sqm, with mo   »