Macintosh Retail Group turnover up 5 % | RetailDetail

Macintosh Retail Group turnover up 5 %

Macintosh Retail Group turnover up 5 %

Dutch Macintosh Retail Group has managed to increase its third quarter turnover nearly 5 % (223.7 million euro) compared to the year before, but CFO Theo Strijbos will leave his job on 1 November.

"Prioritize higher market share"

Fashion turnover grew 4.3 % to 158.1 million euro, while the Living branch (currently only the Kwantum chain) even managed a 12.1 % turnover increase to 44.2 million euro. Online turnover reached 12.6 million euro, a 26.1 % increase compared to last year.

 

"Achieving top-line growth and a higher market share for Fashion took great priority in Q3. We were successful in both respects, thanks to more attractive product offerings, improved stock availability and a clearer positioning of our formats, combined with more marketing efforts. It was Fashion NL in particular that, driven by action programs, achieved a significant increase in turnover and gained considerable offline and online market share despite the Indian summer in September", CEO Kurt Staelens said.

 

Warm weather caused loss

Its operational EBIT at - 3.2 million euro was slightly lower than the year before, mainly because of a 1.5 million euro Fashion loss, affected by the excellent weather in September.

 

Macintosh Retail Group is still working on a store improvement program, which has resulted in 7 store closures and the sale of 24 Belgian Scapino stores on 3 November. The group has also launched several new formulas.

 

CFO leaves company

Theo Strijbos will no longer be the company's CFO on 1 November 2014, with Jeroen Seyger temporarily taking over. On 1 May 2015, Strijbos will leave the company entirely. He had been on Macintosh's board since 2007 and helped refinance the company as its CFO, but now that that process has nearly finished, he will step down.

 

"The supervisory board appreciates Theo Strijbos's performance and dedication in the past 7.5 years. His employment at Macintosh will be terminated at the end of his second 4-year period, which fits the tenure guidelines of our corporate governance code. The supervisory board wishes Theo Strijbos all the best at his future endeavours", Henk van Dalen, chairman of the board, said.

Questions or comments? Please feel free to contact the editors


“Urgent action needed against territorial supply constraints”

23/05/2018

(content provided by EuroCommerce) Speaking to mark the launch of the Benelux study on territorial supply constraints, EuroCommerce Director-General Christian Verschueren argued for the EU to act on big brands’ fragmentation of the European market.

Action owner 3i wants to keep chain after all

22/05/2018

Investor 3i wants to keep a hold of Action after all. Even though the owner made it seem like it was looking for a buyer, 3i now denies it.

Action owner wants to sell stake

18/05/2018

Action’s owner, investment firm 3i, aims to sell a part of the discount store chain next year. The Brits would want to sell a 35 % stake in the firm.

Belgian fund close to HEMA acquisition

09/05/2018

Belgian Core Equity holding is allegedly close to acquiring Dutch chain HEMA: a verbal agreement is apparently in place, all that is required are the signatures.

Walmart, not Amazon, will acquire Indian market leader Flipkart

07/05/2018

Despite Amazon’s attractive offer, Indian online retailer Flipkart has chosen for Walmart and (remarkably), Google owner Alphabet as the new owners of 75 % of Flipkart’s shares. The deal is said to be worth 15 billion dollar.

Alibaba's growth exceeds expectations

07/05/2018

Chinese retail group Alibaba has published better-than-expected quarterly results: turnover went through the roof, but its profit is under pressure because of increased investments.