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Germany’s retail trade reports record profits

Germany’s retail trade reports record profits

Berlin, Feb 2 (Prensa Latina) The Federal Statistical Office (Destatis) reported that the German retail trade reported record profits in December 2021.
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It was due to a 7-percent year-on-year increase in revenues in real terms.

The figures, boosted in particular by online trading, came despite government restrictions due to the Covid-19 pandemic.

In nominal terms, according to Destatis, turnover rose by 2.9 percent compared to the same month in 2020.

Despite the increase, experts commented that restrictions pose an obstacle for landlords in city centers.

Retail sectors with a physical presence, such as textiles, clothing, shoes and leather goods, faced losses in the second year of the crisis.

Specifically, Destatis added that sales fell from November to December by 5.5 percent in real terms and 4.9 percent nominally.

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