NETHERLANDS: Work on C1000 stores hits Schuitema
Dutch retailer Schuitema has seen quarterly profits fall almost 10% due to ongoing restructuring at the company.
The retailer, in which Ahold holds a 73% stake, booked net profit of EUR9m (US$13m) for the three months to the end of September, a fall of 9.9% on the year.
Schuitema, which runs the C1000 stores in the Netherlands, posted its sales figures earlier this month. Turnover was up 1.7% to EUR737m.
CEO Bert Roetert said: "We are continuing to strengthen the position of C1000 in the market. That means investing in the formula and the quality of sales."
Ahold has struck a deal with private equity group CVC for its stake in fellow Dutch retailer Schuitema....
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Ahold has remained tight-lipped on rumours that it wants to retain shares in Dutch retailer Schuitema after the unit is sold....
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Dutch retailer Schuitema has confirmed it will sell 56 stores to Ahold as part of its larger rival's plans to sell its majority stake in the business....
A strong performance at home has driven a 6.7% rise in annual profits at Ahold, the Netherlands-based retail giant....
Nordic supermarket group ICA posted strong quarterly and annual profits today (20 February), shrugging off a meat packaging scandal that hit the chain's Swedish stores last autumn....
Schuitema, the Dutch retailer, is to transfer up to 75 stores to majority owner Ahold this year....
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