Apr 5, 2022, 1:00 PM I Quality Content
Covid-19 has accelerated some trends that were already present.
Covid-19 has hit the Slovak economy significantly, but not all economic sectors have suffered a decline. As the Slovak Spectator’s ranking of the biggest companies suggests, while the lockdown interrupted the production lines of four car manufacturers for weeks in 2020, other sectors have flourished, such as retail chains or companies of logistics.
Distribution chains: the expected change at the top has materialized
5 largest distribution chains
5. Metro Cash & Carry
The detailed results are available in the directory of the largest companies.
One such business that recorded higher revenue was retail chains, although they faced huge challenges due to the outbreak of the pandemic in 2020.
The chains have moved to daily crisis management, assessed the situation on a daily basis and taken the appropriate measures to protect the health of employees and customers. Restricted mobility has driven people to shop online to a greater extent.
“It was one of the biggest challenges,” Slovenská Sporiteľňa Bank analyst Matej Horňák told the Slovak Spectator. “Competition in the online environment has intensified significantly, processes are smoother, and a large number of people are sticking to online shopping even after the pandemic is over.”
2020 brought a change in what was until then the stable distribution chain ranking. Lidl Slovenská Republika overtook long-term number one Tesco Stores SR. While Lidl managed to increase its revenue by 141 million euros or 10% to 1.51 billion euros in 2020, Tesco’s revenue fell by almost 40 million euros or 3% to 1.39 billion euros.
“2020 has been a year like no other,” Martin Kuruc, managing director of Tesco in Slovakia, told the Slovak Spectator. In total, Tesco operates 154 stores across the country.
Customer demand fluctuated in the first year of the pandemic, which was reflected in Tesco’s fluctuating sales. This, combined with significant spending to keep customers and employees safe, has affected their bottom line. Despite this, they managed to open three new supermarkets – in Turany, Petržalka de Bratislava and Banská Bystrica. Tesco has also launched the new Galéria shopping center in Petržalka. Kuruc described it as Tesco’s biggest investment in Slovakia since 2017, without specifying the exact sum. At the end of 2020, Tesco expanded its online store, making it accessible to over 2.8 million people or over 1 million households.
[email protected] to help you.” data-msg-btn-logout=”Login as different user” data-msg-btn-close=”Keep logged in” >