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Provider: Sadif Analytics Prime
Provider: Reuters Investment Profile
Provider: Sadif Analytics Prime

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Macintosh Retail Group NV Issues FY 2015 Operating Result Above Estimates; to Reshape Store Portfolio

Monday, 21 Jan 2013 01:00pm EST 

Macintosh Retail Group NV announced that the Company expects to report FY 2015 operating result of EUR 30 million to EUR 40 million for 2015 as regards the existing activities of Macintosh Retail Group. According to I/B/E/S estimates the analysts on average are expecting the Company to report FY 2015 EBIT of EUR 24.7 million. The Company also announced that it is to reshape its store portfolio by closing over 110 stores in the next few years besides refits and stores to be opened. In the Netherlands some 80 stores will be closed on a total of approximately 570, in Belgium/Luxemburg some 10 stores out of 180 and approximately 20 of the 260 stores in the United Kingdom. Mainly Fashion is affected (around 100), but Living stores will also be closed (around 10). The Company intends to effect the majority of the closures over the next three years, with due regard for termination costs and contractual obligations.