Dutch retailer Laurus has seen first-quarter revenues fall due to recent divestments.
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The company reported that net sales for the first three months of the year reached EUR447.5m (US$607.8m), tumbling from EUR680.2m a year earlier.
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.
The company is planning to streamline its operations this year, reducing the number of distribution centres and selling 50 underperforming Super de Boer stores.
“Sales at Super de Boer rose by 3.3% in the first quarter,” said Laurus chairman Jan Brouwer. “We are pleased with the sales development at Super de Boer and the positive trend of rising quarterly sales. In 2007, we are focusing on phased progress towards the successful conclusion of the enormous reorganisation of Laurus and further improvements in Super de Boer’s competitive strength.”
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By GlobalData
