Recently-published financial results for 2015 show that Dutch clothing chain Coolcat and its affiliate chain America Today had to deal with lower turnover: Coolcat revenue even slumped more than 10 %.
Drop in every market
Coolcat’s 2015 turnover dropped 11 % from 155.4 to 138.7 million euro. The chain was hit the hardest in its home market, the Netherlands, with a drop from 105.9 to 97.8 million euro, but it also suffered turnover drops in Belgium, France and Luxembourg. The weak performance meant that Coolcat’s operational profit dropped from a 2.9 million euro profit to a 1.6 million euro loss.
Its affiliate chain, America Today, also presented negative numbers, with turnover down from 55.8 to 55.1 million euro. It managed a 2.1 million euro profit in 2014, but turned that into a 400,000 euro loss in 2015.
In order to get the chains back on track, several measures were taken in 2016: they let employees go and shut down several stores. Onerous stores will also be shut down once their rental agreements come to an end.
