Dutch store chain Hema has finally managed to turn the tide according to the first quarter results it recently published: turnover grew and the net loss dropped.
Growth in every market
Over the first three months of its fiscal year, Hema generated a 283.4 million euro turnover, up 4.8 % compared to the year before. It was also a 2.7 like-for-like turnover increase and its EBITDA went from 15.8 to 17.9 million euro. Unfortunately for Hema, it still suffered a 12.4 million euro net loss, but that was down from last year’s 14.7 million euro net loss.
Household and care products produced the largest growth, with turnover up 9.7 %. Clothing sales went up 2.3 %, but food suffered a minor 0.7 % drop, partially because the company did not market it as much as before.
Dutch turnover grew 3.8 % to 217.9 million euro, but Belgium and Luxembourg did even better, up 5.5 % to 33.4 million euro. French turnover spiked 16.3 %, but Germany trumped everyone with a 29.5 % turnover increase.
“We made a good start to 2017, despite the fact that the first half year is traditionally a slower period for retailers. In the first quarter of the year. Our online sales were up significantly and sales were higher in all countries”, CEO Tjeerd Jegen said.