“The storm is coming, everybody knows that, but the lightning has not struck yet,” said the chief financial officer of Rossmann, one of Germany’s largest health and beauty retail chains, at its headquarters near the northern city of Hanover.
From where he is standing, it is hard to imagine sunnier economic weather. His firm has recently created nearly 3,000 new jobs in Germany and abroad – where it has been expanding in non-euro zone countries such as Poland and Turkey – and expects its sales this year to rise by nearly 12 percent from 2011.
“The feeling of looming crisis that people have is still vague, undefined,” said Frobel. “And you see this in their continued willingness to go out and buy. Their readiness to consume is holding up well.”