Business and Retail news :Kaufhof reports stable sales and improved earnings

Kaufhof/ Sport-Arena Bonn
Galeria Kaufhof reports sales of €2.1 billion for the first nine months ended Sept 30, up slightly by 0.1 percent from the year-earlier period.

In the third quarter alone revenues for the German department store chain, which also runs 13 Sportarena stores and a fistful of specialty outdoor shops, improved significantly and rose by 1.8 percent to €0.7 billion. In the first nine months, earnings before interest and taxes (Ebit) improved from a loss of €40 million to -€24 million. In the third quarter, the loss decreased from -€9 to -€2 million. Some of the progress was due to Kaufhof’s strategic decision to phase out consumer electronics to the benefit of higher-margin product categories such as footwear, apparel and accessories.

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