Kirkel – 23 February 2009. In view of the deteriorating macroeconomic environment, the Management Board of Praktiker Bau- und Heimwerkermärkte Holding AG created the preconditions for the introduction of short-time work in individual stores. These measures were agreed upon with the pertinent general works councils as a precautionary step. Whether and at which German stores this option will be implemented has not been decided as yet.

To qualify for a short-time allowance, local sales declines need to exceed a specified threshold and thus result in a proven considerable temporary lack of work.

With this step, Praktiker has taken precautions to secure the employment of all staff working at the stores and to avoid layoffs due to cyclical fluctuations. Praktiker would thus be the first German retail group to adopt such responsible measures to prepare for times of crisis.