Macintosh still cannot turn the tide

Macintosh still cannot turn the tide

Macintosh Retail Group's turnover dropped slightly in the first half of 2015, particularly because it has closed down several divisions compared to last year. Those closures did help to drop the company's losses a lot.

Online performs well

The group's total turnover dropped 3 % to 204 million euro. It not only closed 9 % of its stores compared to a year ago, it also carried out a lot of discounts, both of which impacted its bottom line.

 

Net losses have also dropped however, from 31 to 4 million euro, which is a positive consequence of its store sales - like the 16 million euro sale of its Nea International chain in May 2015. It will continue to slim down in the upcoming months as it intends to sell off Kwantum and its British activities this year.

 

The current results have left people at Macintosh Retail Group with mixed feelings: "We topped our significant H1 2014 Fashion NL market share growth by both online and like-for-like offline growth in H1 2015. In Belgium our cross channel strategy also resulted in above market online growth", CEO Kurt Staelens said.

 

Macintosh's online turnover has also grown a lot: Dutch online turnover at the shoe stores has grown 22.3 % while its BeLux online performance grew 19.2 %. There is a marked difference with its offline turnover, which dropped 4.8 % in the Netherlands and 0.4 % in the BeLux area. In total, its turnover at the Dutch shoe stores dropped 2.2 % while it grew 0.2 % in the BeLux area.

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