Hema's turnover stunted by hot third quarter

The unusually hot weather and the transition to a new e-commerce platform and distribution centre for online orders have taken a toll on Hema's quarterly turnover.

 

4.6 % less on a comparable basis

Hema reached a turnover of 304.4 million euros in the third quarter: 1.2 % less than the same quarter in the previous year and even 4.6 % less on a comparable basis. The chain sold more household products and personal care products in the past quarter, but fewer clothes (although the chain claims they did manage to hold their position in the market).

 

Net profits went down dramatically, from 4.6 million euros last year to 2.7 million now. "In the third quarter we managed to make a net profit once more and our gross margin has been further improved," boasts CEO Tjeerd Jegen. "The ongoing heat has unfortunately negatively impacted turnover in the third quarter. As a result, the sale of winter apparel only got going quite late in the quarter. on the other hand, the transition to colder weather at the start of the fourth quarter immediately led to an improvement of turnover development."

 

Hema also announced that Wilco Jiskoot and Marcel Boekhoorn will be joining the supervisory board. Owner Ramphastos Investments intends to appoint three more members in the first half of 2019.