German discount grocers thriving in Czech Republic

German grocery discounter Norma's profits grew last year by 25 percent to CZK 37m in the Czech Republic, while profits jumped 4 percent to CZK 1.7bn. The retailer, which opened its first Czech store in 1992 and now has 47 locations, said it is expecting this upward trend to continue in the coming year.

Norma isn't the only German discount retailer doing well in the Czech Republic. Penny Market reported a 17-percent increase in profits to CZK 487m, while Lidl saw its profits grow by a whopping 55 percent to a record-setting CZK 4bn before taxes. Penny belongs to the Rewe Group, which also operates Billa. Lidl & Schwarz operates Lidl as well as Kaufland. Norma, Penny Market, Lidl and COOP account for a total of 659 grocery stores in the Czech Republic, according to data from Czech research company GFK. Central Bohemia has the most discount grocery stores, while the Zlín region has the least.