Struggling Dutch retailer Laurus NV has posted sales totalling EUR3.21bn for fiscal 2006, down from EUR3.69bn in 2005, reflecting the disposal of the Edah and Konmar chains.
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“As expected, Laurus’ sales were lower in the last quarter of 2006, mainly due to the sale of Edah and Konmar in the course of the year. We are pleased that Super de Boer’s like-for-like sales continued to grow, sustaining the upward trend which started to develop earlier in the year. We are now focusing on step-by-step progress towards successfully completing the massive reorganisation program which Laurus is undertaking and making Super de Boer more competitive,” Jan Brouwer, CEO of Laurus, commented.
The number of Laurus stores decreased in 2006 from 700 to 380, reflecting the sale of the Edah and Konmar and 23 Super de Boer supermarkets.
Super de Boer’s like-for-like sales in 2006 increased to 2.5%, compared with a 4.7% decline in 2005.
Laurus is currently reorganising its operations in an attempt to return the group to profitability, focusing on the Super de Boer format. In 2007, the company said it aims to complete the disposal of Edah and Konmar, dispose around 50 Super de Boer stores, concentrate the company’s distribution operations at Beilen, ‘s-Hertogenbosch, Drachten and Veenendaal, and downsizing the group’s head office operations.
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By GlobalData“This will create a strong foundation for the future on which to continue working step by step towards making Super de Boer more competitive in the years ahead,” Laurus concluded.
