Labour unions are not happy with the fact that Fnac has let 25 (of its 600) Belgian employees go. Ghent has to let go 9 people, with Brussels, Liège and Antwerp also stricken. Fnac hopes to get the chain back up to speed in Belgium, after it has already succeeded in doing so in France.
Fnac cuts 25 Belgian jobs
Belgian AS Adventure acquired its German competitor McTrek. The acquisition opens up the largest European outdoor market, thanks to McTrek’s 39 stores and web shop.
Several American department store chains continue to underperform. Both Macy’s and Kohl’s experienced turnover slumps compared to the previous year, even though they both managed to beat analysts’ expectations.
Amazon is in talks with American event location owners to see whether it could sell tickets for their events on its web shop.
Henkel’s second quarter turnover reached a record number of nearly 5.1 billion euro, thanks to its laundry detergent company Sun’s acquisition. For the first time ever, its six-month turnover surpassed the 10 billion euro milestone.
Lion Capital has approached business bank Credit Suisse to look into “strategic options” for Hema, which basically means it has to find an interested buyer for the Dutch store chain.
Consumer spending in the UK has dropped for the third straight month in July. It is the first time in four years that there was a three-month drop, with analysts pointing to the Brexit.