Over the past two months, Dutch shopping chain HEMA's like-for-like turnover has dropped another few percent, with Belgium and Luxembourg identified as two ailing markets.
Will new formula save company?
Dutch like-for-like dropped 3.4 % in 2014's last two months, while Luxembourg and Belgium even dropped 4.5 %. Its franchisees have also suffered some setbacks: their turnover dropped 4.7 %. HEMA still performs well in Germany and France, where like-for-like turnover has grown 3.2 and 8.4 % respectively.
Currently, HEMA is going through a restructuring phase, which will end when all stores have undergone an remodeling. First up are all Dutch stores, with Belgium and Luxembourg next. The company has not yet published its full-year numbers, but it suffered a 67.1 million euro loss over its first nine months.