Laurus, the number two food retailer in the Netherlands, has seen nine-month sales fall due to its ongoing restructuring process.
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However, the company insisted like-for-like sales from its Super de Boer stores – the only business it is retaining – “more than offset” for the loss in revenue from the stores sold.
Laurus booked net sales of EUR1.3bn (US$1.8bn) for the first nine months of the year, down from EUR2.1bn a year earlier. The fall in revenue reflects the sale of Laurus’ Edah and Konmar stores.
Like-for-like sales from the Super de Boer outlets rose 3.5%, the company said.
CEO Jan Brouwer added: “Laurus almost completed its massive reorganisation project in the third quarter. We can now focus all our attention on making Super de Boer even more competitive.”
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By GlobalData
