International DIY News
Obi reports sales decline in Germany
Obi - a DIY retail subsidiary of Tengelmann Group - has achieved a 1.7% rise in revenue for 2017.
As of the end of the 2017 financial year, the 655 OBI stores generated net sales of €6.18 billion euros with 45,183 employees across eleven countries.
Revenue from the 352 German stores declined by 1.9% to circa €3.13bn during the reporting period. Overseas Obi sales grew by 5.6%, reaching €3.01bn.
Tengelmann CEO, Christian Haub, said:
"The overarching strategic goal of Obi is and will remain the sustainable market leadership in the regions in which our DIY store company is active,"
Source : Insight DIY
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