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


Ferrero and Unilever will create Kinder ice cream together

17/10/2017

Italian Ferrero has struck a deal with Unilever to create Kinder ice cream. Unilever already has plenty of experience in that area, with Magnum as one of its most iconic brands.

New CFO for Carrefour

17/10/2017

French supermarket group Carrefour appointed a new CFO after Pierre-Jean Sivignon decided to leave the company for personal reasons. His replacement comes from Fnac Darty: Matthieu Malige.

Danone mainly grows thanks to price increases

17/10/2017

Danone’s third quarter turnover grew 16.6 % to 6.454 billion euro, although that surge was mainly thanks to its WhiteWave acquisition. The company would have achieved a 4.7 % like-for-like turnover increase otherwise.

Walmart cut costs with new bags and receipts

17/10/2017

American department store chain Walmart cut 27 million dollars (23 million euro) in costs, thanks to several minor changes in its plastic bag and receipt approach. Its eCommerce investments are also starting to dwindle.

Spanish food company wants to acquire Continental Foods

13/10/2017

Spanish food company GB Foods wants to bid for Belgian Continental Foods next week. Two other companies are allegedly interested in the company which owns Devos Lemmens, Aiki and Royco.

Carrefour customers deliver groceries through Merci Voisin

13/10/2017

Supermarket group Carrefour launched a new platform in France, called Merci Voisin (Thanks neighbour). This allows customers to have their online orders delivered at home for a small fee by other customers, basically an Uber for groceries, sort to say.

Back to top