Karstadt: lower sales, no profit, but more sports

karstadt_düsseldorfKarstadt, the beleaguered German department store chain, has booked a decline in sales by 2.7 percent to €2.24 billion in its financial year ended Sept. 30. The number of outlets remained stable at 83. The figures do not include the Karstadt Sports specialty stores which are operated by a separate company.

The operating loss was lower than in the previous year and amounted to €108 million compared with €124 Million in 2012-13. The net loss soared, however, by €59 million to €190 million. According to company information, this evolution was connected with non-recurring expenses on the restructuring of the group.

The sales of sporting goods in the department stores were up, though. They improved by €7 million to €117 million. The share of this product category of the total turnover climbed by 0.4 percentage points to 5.2 percent.

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