The compulsory store closures in the Netherlands affected Beter Bed's revenue in the first quarter. However, once customers have been able to shop by appointment again, things have improved considerably.
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Beter Bed seems to be doing better again now that the company is rid of its German subsidiary Matratzen Concord. In the fourth quarter, organic sales from continuing operations increased by 4.7%.
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Dutch bed chain Beter Bed has closed new financing agreements with its banks, after the company was able to significantly reduce its debts. One of the major factors in the debt reduction was the divestment of its German subsidiary, Matratzen Concord.
Dutch bed retailer Beter Bed has succeeded in offloading its German subsidiary, Matratzen Concord, to investor Magical Honour. The latter is paying five million euros for the controversial mattress retailer and will invest just as much in Beter Bed Holding itself.
Due to continuous problems with Matratzen Concord, Dutch bed selling chain Beter Bed is looking into a sale of its German branch.
Dutch mattresses group Beter Bed Holding saw its first quarter turnover drop 4 % compared to last year. Turnover went down in Germany, where a poison scandal forced results down by 12 %, but Switzerland and Spain performed even worse.
Despite the fact that Dutch Beter Bed Holding saw its turnover grow 6.7 % in the first half of 2017, its net turnover dropped more than 11 % to 7.5 million euro.
Bed seller Beter Bed will expand its French pilot program into the Paris region. The Uden-based company already opened 2 French stores last year, in Bordeaux and Lyon, but thanks to their success, it is now expanding its local operations.
Beter Bed Holding's first quarter turnover grew more than 4 %, with growth in every market aside from Germany and Switzerland. However, German like-for-like turnover did grow.
Sleeping specialist Beter Bed has had an incredible fourth quarter growth, with turnover up several percent and an even larger full-year growth, in all markets.