Macintosh sells its British activities | RetailDetail

Macintosh sells its British activities

Macintosh sells its British activities

Dutch fashion concern Macintosh has finalized the sale of its British activities, while the company has seen its like-for-like turnover grow (thanks to skyrocketing Belgian online sales), even though overall turnover did drop once more.

Huge online sales growth in Belgium

Macintosh sold its Fashion UK branch, containing Jones Bootmaker and Brantano's British stores, to Alteri investors for 17 million euro. It will use these funds, which were at the lower end of what it had expected to get, to pay off debts. The company is also still looking for a potential buyer for Kwantum.

 

Total turnover dropped 4.4 % to 108.4 million euro in the third quarter, on the back of sixty store closures. However, on a like-for-like basis turnover grew 1.8 %. Like-for-like turnover in September even skyrocketed 9 % compared to the year before. Biggest growth factor were Belgian online sales, which grew a third.

 

"We can see the first effects of our transformation plans in the way we guide our stores and collections more directly. Our strategy, to focus on the Benelux shoe market, has become more streamlined now that we have managed to sell Nea International (in April) and Fashion UK (this week)", Macintosh CEO, Kurt Staelens, said.

Questions or comments? Please feel free to contact the editors


Discounters' major opportunities for growth in Western Europe

16/07/2018

Despite the multitude of stores in most European markets, discounters plan to open up to ten million square metres of store surface in five years' time. Even in so-called saturated markets they still see a lot of chances for growth, LZ Retailytics says.

Contamination bites huge chunks of Greenyard's value

16/07/2018

Vegetable producer Greenyard is under attack after a listeria contamination in its Hungarian factory. The company says to have taken all necessary measures, but the share price plummets.

Starbucks dumps plastic straws worldwide

12/07/2018

American coffee company Starbucks will ban plastic straws in their stores starting from 2020. A small step for coffee enthusiasts, but a big step for the environment, as the coffee giant uses about a billion straws every year.

AB InBev joins forces with Efes in Russia

12/07/2018

In order to counter the decline of their success on the Russian market, Belgian beer giant AB InBev has placed its activities in Russia in a joint venture with Turkish Anadolu Efes.

Jumbo appoints new head of Belgian branch

11/07/2018

Dutch Jumbo Groep Holding has made a management reshuffle, with Peter Isaac becoming the new managing director of the group's Belgian branch. Bart van den Nieuwenhof meanwhile is set to leave the group's restaurant chain La Place.

Snacks boost Pepsico’s sales

10/07/2018

Snack and beverage giant Pepsico has recorded a slight revenue growth of 2.4 % in the second quarter of this year. Net profit however went 14 % lower, due to rising taxes.