Hema suffers loss again

Hema suffers loss again

Dutch chain Hema has suffered another loss in its third quarter of the current fiscal year. Belgium and the Netherlands fared particularly bad, while France's turnover increased considerably (+ 6.1 %).

Belgium down 3.5 %, other foreign markets have grown

Hema suffered a 14.8 million euro net loss, which the company attributes to one-off costs, like store renovations and a restructuring program at its main office. Net turnover dropped 3.4 % to 271.1 million euro, while like-for-like turnover even dropped 6.8 %.

 

"Hema's performance is in line with the Dutch retail market, which shows no sign of improvement. Consumer trust has shown a slight improvement, but this has not been transformed into an increased number of Dutch sales", CEO Ronald van Zetten said in a press release.

 

Hema's foreign performance was markedly better: its French like-for-like turnover grew 6.1 % while German turnover grew 1.7 %. British and Spanish numbers were not revealed, but signs were "very positive". Belgium was the exception: turnover dropped 3.5 % due to the very mild weather.

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