- Modernization of already more than one third of the store network finalized
- Acquisition of Real property in Kassel am Franzgraben
- Long-term lease extensions for successful locations
- Closing of eight locations
Real is ready to take the next big step in developing its location portfolios to secure the future. The concept for the Real hypermarket in Essen, which reopened in October 2013, continues to be successful. Since the start of the modernization, Real has modernized 107 hypermarkets on the basis of the concept in Essen. Overall more than one third of all stores in the network have been redeveloped following the Essen model.
The company has also decided to acquire the property of the Kassel location at Franzgraben. Real also intends to strengthen its store network by extending long-term leases for four successful locations in Krefeld, Gifhorn, Bocholt and Schleswig.
As part of the "store restructuring" project, store closures have been decided for a total of eight stores. These are located in Plettenberg, Ludwigshafen-Walzmühle, Pirmasens, Gägelow, Leipzig-Grünau, Berlin-Wedding (Badstraße) and Schwerin (Marienplatz). The location in Iserlohn will also be closed on 31 December 2016, this decision however is independent due to the restructuring portfolio.
"We are consequently continuing our repositioning course. That includes further roll-out of our new concept as well as securing successful locations. It also includes difficult decisions, such as closing locations which have no long-term opportunity in terms of surplus capacity on the German food retail market, the overall change in structure, and unequal competition," explained Didier Fleury, Real CEO.