Dutch retailer Laurus has posted a slump in first-half sales due to the company’s on-going reorganisation.
The company said late yesterday (3 July) that net sales for the first six months of the year reached EUR897m (US$1.2bn), down from EUR1.4bn a year earlier.
Laurus said the fall in revenues was due to the sale of its Edah and Konmar stores, which it sold last year to focus on its flagship Super de Boer stores. Sales from those outlets were up 4.3%, Laurus said.
The company hopes to complete its restructuring programme during the third quarter of the year. It will look to offload 49 Super de Boer stores, consolidate its distribution network and cut jobs at its head office.