Store closures push Macintosh into red numbers

Store closures push Macintosh into red numbers

Macintosh Retail Group has managed a firm turnover growth in the first half of its fiscal year, but several store closures have resulted in a first-half loss in general.

Strong Fashion increase

Macintosh Retail Group managed a 405.4 million euro turnover in the first half of its fiscal year, a 6.8 % increase compared to the year before. Fashion had a particularly excellent turnover increase, up 10.1 % to 286.2 million euro. Living dropped slightly, from 86.5 million euro to 83.9 million euro.

 

Nevertheless, the company has had to deal with a 31.2 net loss, nearly twice as much as the 17.3 million euro loss it suffered last year. This time around, it was mainly because it has shut down 13 non-core stores in the first half of 2014.

 

"Shoe" market share on the rise

CEO Frank De Moor has not expressed dissatisfaction at the results. "Over the past few years, we have worked hard to build the new Macintosh cross-channel proposition. Strong shoe formats with appealing offerings and online and brick-and-mortar stores form the heart of this proposition. What we have been able to establish recently is that both online and offline customers are responding well to the changes that were initiated."

 

Kurt Staelens, who will become the group's CEO on 1 August, sees a positive evolution. "Because of the developments in turnover and earnings we have seen over the past months, I am confident that our Rebalancing for Profitable Growth strategy is based on the right priorities. The recently announced new financing package will help us to continue our strategic course with vigour, allowing us also to fully capitalise on the momentum of rising consumer confidence."

Questions or comments? Please feel free to contact the editors


Ellis Gourmet Burger wants partner for international expansion

15/12/2017

Belgian hamburger restaurant chain Ellis Gourmet Burger wants to expand into new countries, following Belgium, the Netherlands and France. That is why it seeks an investor to help finance that expansion, which may lead to a new majority shareholder.

Heineken will sell Mort Subite internationally

15/12/2017

Heineken will try to sell its Belgian beer brand Mort Subite all across the world. It has done similarly with Affligem and that proved to be a major success. Mort Subite will be on sale in every country that has Heineken.

Amazon brings its private labels to Europe

14/12/2017

After it introduced Amazon Prime to an increased number of European markets, Amazon is now bringing in its own FMCG private labels. Over the past few weeks, the online department store launched several private label products in Europe and it has plans for even more. 

Albert Heijn pulls plug on AH to go in Germany

14/12/2017

Albert Heijn has decided to shut down its German AH convenience stores. According to the supermarket company, the chain does not have enough room to grow in Germany despite having built up its presence in the past five years.

Carrefour continues to lose French market share

13/12/2017

Kantar Worldpanel’s new numbers underline the fact that Carrefour CEO Alexandre Bompard is facing a huge challenge. Out of every supermarket chain, his chain suffered the largest market share loss in France last month.

New Metro still struggles in the Netherlands and Belgium

13/12/2017

German food retail group Metro says it has created a solid foundation for new growth in its first year since it stepped away from its non-food activities. The Benelux are still worrisome however. 

Back to top