Discount Retail Chain Lidl Hungary (owned by the German Schwarz Group) has been named the top retailer in Hungary for the second year in a row, according to the 2021 Retailer Ranking by local portal Trademagazin.
The rankings in the Retailer Ranking study are determined by the sales revenue provided by retailers, in local currency, as well as the size of each retailer's store network.
Lidl closed 2021 with a turnover of about €2.49 billion (US$ 2.48 Bn), up on the previous year’s €2.28 billion (US$ 2.27 Bn), as well as boasting 191 stores, an increase of five stores year-on-year.
Commenting on the discounter's performance, Trademagazin said that Lidl 'greatly outperformed its competitors. Similarly, the company was able to show double-digit growth in terms of results, operating profit increased by 11% and profit after tax by 17%'.
Spar Hungary, which opened the most new stores in 2021 (+26, giving it a total of 614), followed in second place with a turnover of €2.14 billion (US$ 2.13Bn), up from the €2.02 billion (US$ 2.01 Bn) it reported in 2020.
Third-placed Tesco achieved a 2021 turnover of €2.07 billion (US$ 2.06 Bn), €2.0 billion (US$ 1.99 Bn) in 2020 and a store network of 198 outlets, a drop of three outlets.
Best Of The Rest
The top 10 also includes Coop Hungary turnover of €1.82 billion (US$ 1.81 Bn) with 3,939 stores; CBA turnover of €1.54 billion (US$ 1.53 Bn) with 1,968 stores; Auchan turnover of €1.26 billion (US$ 1.25 Bn) with 24 stores; Real turnover of €1.17 billion (US$ 1.16 Bn) with 1,151 stores; Penny Market turnover of €1.05 billion with 227 stores; Aldi turnover of €1.04 billion (US$1.03 Bn) with 153 stores; and dm-drogerie markt turnover of €362 million (US$ 360 Mn) with 259 stores.
Falling just outside the top ten, meanwhile are drug store chain Rossmann turnover of €311.9 million (US$ 310 Bn) with 235 stores and Müller turnover of €162 million (US$ 161 Bn) with 33 stores.
See here for more: https://www.esmmagazine.com/retail/lidl-named-top-retailer-in-hungary-for-second-year-running-206249