Praktiker back in the red

The German Praktiker Group saw its sales decline in the third quarter to € 844.4 mio, a fall of 7.3 per cent compared with the same period last year. In the first three quarters, the group’s sales were down by 8.5 per cent on the same period in 2010 to around € 2.468 bn. In Germany, the Max Bahr sales division increased its sales in the third quarter by 2.8 per cent to € 180.5 mio and by 2.1 per cent on a comparable store area. With a volume of € 390.4 mio, sales by the Praktiker distribution channel were 9.1 per cent down on the previous year’s figure. In international operations, the nine national subsidiaries ended the third quarter with a drop of 11.6 per cent in sales to € 252.5 mio. On a like-for-like basis, the decline was 13.6 per cent. A press release referred to the very fragmented development of the economic situation, which was poorer than expected on the whole. While Turkey is experiencing high economic growth, for example, private consumption in Greece, Romania and Bulgaria is shrinking.