HEMA on track in third quarter
Homewares retailer HEMA grew its net sales by 2.9% to €301.2 million in its third quarter as it continued to implement its international expansion plan.
The Dutch retailer said the uplift was driven by a 0.2% rise in group like-for-like consumer sales, more deliveries to franchisees and a net increase of 21 stores. The rise in like-for-like sales marks the seventh consecutive quarter of like-for-like consumer sales growth for the company.
Adjusted EBITDA rose by 33.2% to €31.3 million and the retailer made a net loss of €1.6 million compared to a loss of €28.8 million in the same quarter in the previous year.
Tjeerd Jegen, chief executive of HEMA, said: “This was another good quarter for HEMA, despite the exceptionally warm weather in September.”
During the period, HEMA’s biggest sales increases were in the apparel, household goods and personal care categories.
The company said it is on track with its growth strategy which includes a revitalisation of the Benelux region, international expansion and growth in e-commerce.
Jegen added: “Just as we have in the Netherlands, we have now opened pilot stores in Belgium to test our international store concept. We also opened our 50th store in France and we will continue to expand in Germany. HEMA also performed well in terms of e-commerce in the third quarter. We continue to focus on structural improvements of our operations and the underlying financial results.”
By the end of its fourth quarter, HEMA will have opened new stores in Cologne, London, Madrid and Marseille to add to its 700 plus stores in seven countries. It now has seven stores in the UK.
Email this article to a friend
You need to be logged in to use this feature.
Please log in here