Co-operative Eroski has reported a net loss of E36m (£28.8m), a 44% improvement on the loss of E64.6m (£51.6m) the previous year. The retailer has now made a loss for four consecutive years as it continues to be hit by high level of debt and a weak economic environment. It has continued a debt reduction drive through the sale of non-core assets, which has allowed the company to reduce debt by E291m (£232.7m). Gross sales reached E6.64bn (£5.31bn), representing a 3.2% decrease compared with last year, due to a price reduction in the most popular items and a smaller store count following a series of store closures and disinvestments.
- News
- Sectors
- People
- Supply chain
- Data: Three charts that show where retailers are investing tech spend
- ‘Food insecurity is a reality for many, and the fear is it will only get worse’
- Data: More than half of retail supply chain leaders considered quitting in the past year
- In pictures: Boohoo unveils ‘model factory’ to reinvigorate Leicester rag trade
- Tech
- Watch: Boots CIO – a ‘meaningful difference’ in customer messaging forges a more human connection
- ‘A huge change is coming to online retail – are you ready for it?’
- From Bower Collective to Pasta Evangelists – how subscriptions are leading CX
- Sustainability and savings: the six apps your customers will be downloading in 2022
- Stores
- In pictures: Platinum jubilee – a look back at 70 years of seismic change in retail
- Store gallery: McDonald’s unveils first ‘convenience of the future’ branches
- Store gallery: Decathlon unveils ‘unique’ Liverpool city centre flagship
- Store gallery: M&S’ Stevenage superstore with wine tasting, fill-your-own and Scan & Shop
- Be Inspired
- Events
- Prospect
No comments yet