Praktiker Hungary grows by 20 per cent in 2018

Praktiker Hungary reports record sales for 2018. Returns rose by 19.5 per cent to HUF 57.1 bn (EUR 178 mio). Thus, the company has claimed second place in the Hungarian DIY store trade, whose overall volume is estimated to be HUF 160 bn (EUR 498 mio). The chain belongs to former country manager Karl-Heinz Keth and the Wallis group which, in 2016, they jointly took over from the German Praktiker group which went bankrupt in 2013. Keth expects further growth of around 15 per cent in 2019.
The online shop contributes to the sales development with double-digit growth rates. It accounted for around 7 per cent of overall sales in 2018. Around 30 000 articles are available in the online shop.
Keth attributes the positive overall development in particular to the modernisation of the stores. In the past year, six locations were converted, by 2023 they want to have modernised all 20 locations with their 130 000 m² of retail space. According to the information provided, Praktiker Hungary is annually investing HUF 1.6 bn (EUR 5 mio) on this. In addition, the company would like to expand in two or three other cities in the country. As this is difficult due to government regulations, they are also considering an expansion into neighbouring countries, Keth told the Budapest newspaper.