Asset write-downs hit Mercators bottom line

Asset write-downs hit Mercator's bottom line

Slovenian retailer Mercator, which has stores throughout south-eastern Europe, has reported an annual loss of over EUR103m (US$139.8m) amid flat sales and write-downs on assets.

Mercator yesterday (29 January) booked a loss of EUR103.6m, citing a series of charges from write-downs and impairment costs.

Revenue reached EUR2.87bn, in line with the sales it generated in 2011.

The company plans to shake up its business this year, which will include the withdrawal from its two smallest markets, Albania and Bulgaria.

Mercator will also centralise its business functions, "optimise" its supply chain and focus on smaller store formats.

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