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Successive restructurings have cost De Bijenkorf about 15 million euros. The Dutch department store chain, which saw its like-for-like sales decline last year, is also set to invest millions in renovations.
Luxury market under pressure
Restructurings in 2025 and 2026, which included the closure of the central bakery and the elimination of more than 300 jobs, cost De Bijenkorf around 15 million euros, according to the annual report reviewed by the business newspaper FD. Over the next five years, De Bijenkorf will invest 36.1 million euros in renovating its stores in Rotterdam and Amsterdam.
In 2025, De Bijenkorf generated net revenue of just under 489 million euros. Because 2024 was a shorter fiscal year, revenue rose by 2.8%, but on a comparable basis, it fell by 8.3%. Operating profit rose from 23.8 to 24.7 million euros, while net profit fell from 9.4 to nearly 4.3 million euros. The luxury market is under pressure, the company says.
The department store chain is part of the British Selfridges Group, which in turn is owned by the Thai conglomerate Central Group (60%) and the Saudi sovereign wealth fund Public Investment Fund (40%). Since last summer, De Bijenkorf has had a new CEO, Sean Hill, who previously worked for the department stores KaDeWe and La Rinascente.
