SLOVENIA: Retailer Mercator reports FY loss
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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In the second half of 2012 Mercator-S plans to invest more than €30 million in order to open new hypermarkets in Serbia. In May 2012 it also invested €12 million in the reconstruction of Mercator Cent...
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