Dutch supermarket operator Laurus today (2 March) posted its third straight net loss of EUR45m (US$59.48m) from EUR66m the previous year. Laurus said that in the coming fiscal it anticipates losses to continue to narrow.
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Group net sales fell by 9.4% to EUR2.9bn.
Laurus, the second biggest Dutch retailer by sales after Ahold, sold its Edah and Konmar stores last year in order to focus on its 357 Super de Boer supermarkets.
Super de Boer is expected to have about EUR2.0bn in consumer sales and EBIT this year. The group said it will invest about EUR20m in refurbishing 20 stores.
“Laurus is still in a major, far-reaching reorganisation process,” chief executive Jan Brouwer said in a statement.
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By GlobalDataLooking to 2007, Brouwer said that the company will streamline its operations, reducing the number of its distribution centres and selling 50 underperforming Super de Boer stores. While Laurus expects another year of loss, the group said losses would be significantly lower than this year.
