Obi still expansionary

Tengelmann, a German retailing group, reports a figure of € 6.4 bn for the total sales of its subsidiary Obi, which amounts to a rise of 6.0 per cent in constant currency. This information was provided at the annual press conference of the parent company. The German market leader had 561 stores in operation at year’s end. It is involved in twelve other countries apart from Germany: Bosnia-Herzegovina, Italy, Croatia, Austria, Poland, Romania, Russia, Switzerland, Slovenia, Czechia, Ukraine and Hungary. Having opened 24 new stores altogether last year, Obi lays claim to be Europe’s most expansionary DIY retailer for the second year running.