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January 22, 2020

German retailer Kaufland reveals intention to leave Australia

German hypermarket chain Kaufland has decided to exit the Australian market, making 200 employees redundant.

German hypermarket chain Kaufland has decided to exit the Australian market, making 200 employees redundant.

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The Sydney Morning Herald reported that the retailer is planning an ‘orderly withdrawal’. The move will allow Kaufland to direct its efforts on operations in the European markets.

Kaufland International acting chief executive Frank Schumann was quoted by the newspaper as saying: “In Europe, we see a great deal of growth potential. We will actively shape the consolidation of the European retail sector, thus further reinforcing our leading position.”

In September last year, the retailer announced the construction of its first 24,000m² supermarket in Prospect, Adelaide, South Australia.

The location created 150 construction jobs and up to another 100 retail jobs when completed.

The company also revealed plans to open as many as 30 stores and had been working on securing suitable sites in the country.

Kaufland was quoted by 9news as saying: “Kaufland’s 200 Australian employees were informed of the decision today, with an assurance that generous packages including all entitlements will be offered, as part of a thorough support and consultation process for all.

“The future of Kaufland’s existing Australian investments, including properties purchased for retail outlets and distribution infrastructure, will be discussed with the relevant parties in the coming days.”

With 132,000 staff, Kaufland operates over 1,300 stores across Europe, including Germany, Poland, the Czech Republic, Romania and more. It is owned by retailer Schwarz Group.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.