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


Small Belgian brewery conquers Brazil thanks to playing cards

13/09/2017

Het Nest, a small brewery from Turnhout, will get its beers brewed in Brazil as well. It has struck a deal with Cervejaria Premium Paulista, which will brew and distribute the beers locally.

Price cuts drive 25 % more customers to Whole Foods

12/09/2017

Supermarket chain Whole Foods welcomed an additional 25 % of customers in the first few days following Amazon’s price cuts.

Ter Beke enters British food service industry

12/09/2017

Belgian food group Ter Beke has acquired a 90 % stake in British competitor KK Fine Foods for an undisclosed fee. The current shareholders hold onto the other 10 %.

Godiva wants to conquer the world through supermarkets

12/09/2017

Belgian praline brand Godiva will soon sell its chocolate in supermarkets all over the world after signing a deal with chains like Albert Heijn and Sainsbury’s. Previously, it sold nearly all its chocolate through its own store network.

Insight: Xavier Piesvaux' seven labours at Delhaize

10/09/2017

Can one French and several Dutch managers do what the Belgian management failed to do these past few years at Delhaize Belgium? Its new CEO will face plenty of challenges: we count at least seven.

Nestlé USA acquires food manufacturer Sweet Earth

08/09/2017

Nestlé USA has acquired American Sweet Earth for an undisclosed fee. The company mainly manufactures meat replacements, a rapidly-growing market, but also several frozen meals.

Back to top