Posts tagged as karstadt

  • A few more rounds to go: Karstadt welcomed box champion Vladimir Klitschko at an event a few years ago.

    Friday, September 12th 2014

    Karstadt management presents recovery plan

    by Markus Huber

                          The management of Karstadt, the beleaguered German department store chain, has submitted a recovery plan to the new supervisory board, constituted on Thursday, Sept. 11. The new program describes previous efforts implemented since 2011 as a failure. The management advised ending the current strategy to avoid additional losses. Instead, […]

  • Einkaufscenter am Limkecker Platz

    Wednesday, August 20th 2014

    Karstadt wants to turn a profit by 2016-2017; Weitz quits

    by Markus Huber

    Karstadt Warenhaus GmbH, the big German department store chain under new ownership, has published its figures for the financial year 2012-13, ended Sept. 30. Sales dropped to €2,672.8 million compared with €2,936.0 million in the previous year. Total gross margin fell by 2.19 percentage points to 39.59 percent; this was explained mainly by the outsourcing […]

  • karstadt_düsseldorf

    Tuesday, August 19th 2014

    Karstadt first needs a proper plan, not just Kaufhof

    by Markus Huber

    Nicolas Berggruen probably feels better now. He cashed in a symbolic €1 to finally get rid of the 83 Karstadt department stores in Germany as well as the remaining shares he held in Karstadt Sports and the so-called premium department stores in Hamburg, Berlin and Munich. His plan to turn round the beleaguered retailer with little investment or strategic thinking turned […]

  • Thursday, August 14th 2014

    Benko seemingly willing to acquire Karstadt

    by Markus Huber

    Signa Holding, the company owned by Austrian real estate entrepreneur René Benko, seems willing to take over all of beleaguered German department store chain Karstadt’s shares. Last year, Signa already acquired roughly three quarters of the shares in the Karstadt Sports chain as well as of its premium department stores. Benko bought the shares from Nicolas Berggruen and is quoted in the […]

  • Einkaufscenter am Limkecker Platz

    Thursday, July 31st 2014

    Karstadt continues to write hefty losses

    by Markus Huber

    Karstadt, the large German department store chain, has released some of its figures for the 2012-13 financial year which are not very promising. In an interview with the newspaper Handelsblatt, the acting chief executive, Miguel Müllenbach, said that turnover dropped to €2.7 billion from €2.9 billion in the previous year. Retail sales went down by about €100 million, the […]

  • Monday, July 14th 2014

    Berggruen looking for Karstadt buyer

    by Markus Huber

    Following the abrupt departure of CEO Eva-Lotta Sjöstedt a few days ago, the owner of the German department store chain Karstadt, Nicolas Berggruen, is planning to get rid of the 83 stores, according to media reports. It is said that he is negotiating with Signa, the company owned by Austrian entrepreneur René Benko. Signa already holds a majority stake […]

  • Tuesday, July 8th 2014

    Karstadt Chief quits after five months in office

    by Markus Huber

    Eva-Lotta Sjöstedt, managing director of the Karstadt department store chain, has decided to leave her responsibilities after only five months in office. In a press release, she explained that she did not see any way to develop her plan of refinancing and restructuring the 83 German department stores. She openly blamed this on the company’s owner, […]

  • Tuesday, May 27th 2014

    Karstadt suffers from ongoing sales decline

    by Markus Huber

    According to Handelsblatt, Karstadt, the German department and sports store chain, saw sales decline by 3.9 percent to €1,413 million in the first six months of its financial year which ends Sept. 30. The newspaper refers to an internal Karstadt document. Operating profit (Ebitda) was €25 million. This was €1 million more than in the previous […]

  • Tuesday, March 11th 2014

    Karstadt still not looking good

    by Markus Huber

    Karstadt finally managed to post its figures for the 2011-12 financial year which ended on Sept. 30th 2012. Karstadt Warenhaus GmbH naturally lost a good deal of sales through transferring its 27 sporting goods stores to a new company, Karstadt Sports GmbH. The same happend with their three flagship stores, KaDeWe in Berlin, Oberpollinger in […]

  • Thursday, November 21st 2013

    Karstadt Sports—new shareholder is moving in

    by Markus Huber

    Manager Magazin reports that the 28 Karstadt Sports stores and three premium department stores in Berlin, Hamburg and Munich have a new substantial shareholder. René Benko, the Austrian entrepreneur, who acquired 75.1 percent of the sports and premium branches from Nicholas Berggruen in September, is apparently now about to transfer half of these shares to […]