Tuesday, August 19, 2014

Drought is imminent: Karstadt makes another multi-million losses – n-tv.de NEWS

Drought is imminent: Karstadt makes another multi-million losses – n-tv.de NEWS


 Tuesday, August 19, 2014


 Shortly after the acquisition by the Investor Benko economic misery of the Karstadt Group is increasingly clear. The revenue goes back, the losses add up to a three-digit million amount. Until it gets better, it might take.



The ailing department store giant Karstadt lies further deep in the red zone. Evidence in the Federal Gazette published figures show that the traditional company posted a net loss of 131 million euros in fiscal 2012/13. At the same time, sales went back, was as shown by the figures of the Karstadt department store GmbH

The revenue decreased from October 2012 to September 2013 at 2.67 billion euros -. Previous year there were 2.94 billion Euro. And operating result Karstadt wrote deep in the red: The loss in the ordinary course of business grew by more than 90 million euros to 124 million euros in now. For the current fiscal year 2013-14 expects Karstadt “a loss in nearly triple-digit millions,” it says in the documents further, which had been created in the spring and thus before the recent change of ownership.

Only in 2017 ? again

Karstadt stands in the profit zone, according to forecasts published in the Federal Gazette a more thirst Recke before: For the financial year 2016/17 “for the first time a positive result from ordinary activities to be realistic” appears, is there. “Additional cost-cutting or generate liquidity measures also have to attack according to survival assurance society, are necessary if, contrary to expectations, additional currently not enter known events that cost the company more than the amount allowed in the planning of capital and liquidity reserves beyond” goes on to say.

More on the topic

“According to plan”, is in the documents that are still expected losses should “until the date of return to the profit zone at no time result in a capital of less than 200 million euros”. The accounts were created in April, only now it was published in the Federal Gazette.

The department store was acquired in the fall of 2010 by the Nicolas Berggruen billionaire out of insolvency. Berggruen has passed him earlier this week at the Austrian property investor Rene Benko and its Signa Holding, which is now planning a renovation. Balances were only published in the Federal Gazette since the takeover by Berggruen.

  Source: n-tv.de


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