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Bookstore chain Thalia grows thanks to online success

2021-10-19T11:58:30.918Z


A strong growth surge in online retail brought Germany's larger book retail chain Thalia good business in the 2020/21 financial year despite corona-related store closings. Overall, the chain's sales in Germany and Austria rose by around 7 percent to 1.1 billion euros, as Thalia boss Michael Busch announced on Tuesday. The company did not provide any information on the result.


A strong growth surge in online retail brought Germany's larger book retail chain Thalia good business in the 2020/21 financial year despite corona-related store closings.

Overall, the chain's sales in Germany and Austria rose by around 7 percent to 1.1 billion euros, as Thalia boss Michael Busch announced on Tuesday.

The company did not provide any information on the result.

Hagen - the growth driver was online trading.

Thalia's e-commerce business grew by around 65 percent within a year.

This increased the online share of sales from around 28 to 40 percent.

In contrast, sales in the branches in Germany and Austria fell by around 16 percent due to the month-long branch closings in the wake of the pandemic.

"The damage caused by the forced closings of our bookstores amounts to around 65 million euros over the two Corona years," complained Busch.

The state will probably take over a low double-digit million amount of this.

The company has to finance the rest through loans.

The money is therefore missing for the necessary investments.

Nevertheless, Thalia did not give up a bookstore during the crisis and did not lay off any employees because of the pandemic.

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Sales and margins should also continue to grow, as the company from Neubiberg near Munich announced on Tuesday.

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We are continuing on our path of profitable growth and sustainable value creation, ”said CEO Reinhard Ploss.

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Villeroy and Boch increases annual forecast again

After good business also in the third quarter, the ceramic manufacturer Villeroy und Boch has again raised its annual forecast for 2021.

The group in Mettlach announced that sales are expected to grow by almost 15 percent to more than 920 million euros.

So far, Villeroy and Boch had assumed an increase of 10.5 percent to around 885 million euros.

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Teamviewer lowers forecast after a weak quarter

The software provider Teamviewer is struggling with unexpectedly weak growth in its business.

After the third quarter, the management around CEO Oliver Steil now had to cut the prospects for billing and sales, and profitability is also estimated to be lower than before.

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In addition to books, Thalia is also selling more and more toys in its branches.

With the withdrawal of toy retailers from the inner cities, Thalia is increasingly taking on its role, reported Busch.

Toys now make up around 10 percent of the overall range.

dpa

Source: merkur

All news articles on 2021-10-19

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