Kik plans to close up to 400 stores in Germany

nordbayern.de (German)

Discount retailer Kik is reportedly planning to close up to 400 of its approximately 2,400 stores in Germany. The closures would primarily affect unprofitable locations. A company spokesperson confirmed that Kik regularly reviews its store network for profitability as part of an ongoing process. The company also plans to invest in existing stores and open new ones, potentially focusing on international expansion. This potential restructuring follows the departure of CEO Patrick Zahn after 18 years and COO Dirk Ankenbrand. Kik achieved around 2.4 billion euros in revenue in 2023 and employs about 32,000 people globally.


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