The retailer said group sales were likely to rise at a low single-digit rate, instead of the expected mid single-digit rise, but insisted that full-year operating profit would still climb by between 10 million and 15 million (£7.9 million and£11.8 million) to come in at between 135 million and 140 million (£106.6 million and£110.5 million).
Last week, it reported a 20.5 per cent increase in first-half operating profit to 59.2 million (£46.7 million) on flat sales of 1.99 billion (£1.57 billion). Its German arm suffered a fall in first-half like-for-like sales of 8.4 per cent.
Management board chairman Wolfgang Werner said inflation fears had dampened the consumer mood in Germany – the retailer’s biggest market – but remained optimistic, even though consumer confidence dropped to its lowest level in five years in the country, according to GfK’s AG index for August.
Praktiker has cut its 20 per cent-off days in Germany, improving margins. Werner said: “We are earning – even in Germany – and are managing to keep the right balance between the fight for market share and the profitability of our business.”
He said uncertainty in Germany made it more important that Praktiker’s international business expands successfully, where the future of new stores “frequently depends more on the competitive environment than on macroeconomic factors”.