×
7 929
Fashion Jobs
SELFRIDGES
Stock Runner Beauty Workshop 25 Hours - Exchange Square
Permanent · MANCHESTER
SELFRIDGES
Associate CRM Analyst
Permanent · LONDON
NEXT
Sales Coordinator - Belfast Holywood Home
Permanent · BELFAST
NEXT
Sales Coordinator - Elmsall Gateway Staff Shop
Permanent · PONTEFRACT
NEXT
Sales Coordinator - Festival Park Hanley
Permanent · STOKE-ON-TRENT
NEXT
Delivery Manager - Sheffield Meadowhall
Permanent · SHEFFIELD
NEXT
Delivery Coordinator - London Stratford
Permanent · STRATFORD-UPON-AVON
NEXT
Sales Coordinator (Stock) - Ballymena Fairhill Shopping Centre
Permanent · BALLYMENA
NEXT
Sales Coordinator - Croydon Centrale
Permanent · CROYDON
NEXT
Sales Manager - Liverpool Church st
Permanent · LIVERPOOL
NEXT
Sales Manager - Handforth Dean
Permanent · WILMSLOW
NEXT
Sales Coordinator - Hull st.Stephens
Permanent · KINGSTON UPON HULL
NEXT
Stock Coordinator - County Oak Crawley
Permanent · CRAWLEY
NEXT
Sales Coordinator - Blackpool Clifton RP
Permanent · BLACKPOOL
JOHN LEWIS
Loss Prevention Partner – Various London Branches
Permanent · LONDON
SELFRIDGES
CRM Lead
Permanent · LONDON
NEXT
Sales Coordinator - Northampton
Permanent · NORTHAMPTON
BOOHOO GROUP
Warehouse Operative
Permanent · BURNLEY
SELFRIDGES
Product Manager- Customer Data
Permanent · LONDON
SELFRIDGES
Retail Stock Runner - Womenswear 2nd Floor, Various Hours (Part Time)
Permanent · LONDON
ESTEE LAUDER
Creative Operations Manager (Digital)
Permanent · Londres
PRIMARK
Stock Optimiser (Assistant Branch Merchandiser)
Permanent · Reading
By
Reuters API
Published
Jan 23, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

German department store Kaufhof needs cost cuts after poor Xmas

By
Reuters API
Published
Jan 23, 2019

German department store chain Kaufhof may have to cut costs after sales fell over the Christmas period, sources close to the company said.




Kaufhof's sales in Germany fell in the quarter beginning Nov. 4 through to the start of January, compared with a year ago, missing expectations, one source told Reuters, with the online business also shrinking.

Kaufhof declined to comment.

German regulators approved a merger of Kaufhof with rival chain Karstadt in November, creating a group with 243 department stores in Germany, Belgium and the Netherlands, 32,000 employees and annual sales of 5.4 billion euros (4.72 billion pounds).

Kaufhof, owned by Canada's Hudson's Bay Co and Austria's Signa Holding, does not give a breakdown for sales in Germany.

Their merger was sealed as booming online retail has hit sales at many department stores. Britain's House of Fraser group collapsed last year and U.S. chain Sears was saved last week in a bankruptcy auction.

Another source said Kaufhof might have to restructure and that the owners might have to invest several hundreds of millions of euros.

Both owners last year invested 100 million euros each in the newly merged company.

Signa Holding owns 50.01 percent in the merged business, led by Karstadt boss Stephan Fanderl, while Hudson's Bay, which bought Kaufhof in 2015, owns the rest.
The sources also said the merged group would decide by the end of January on the future of the companies' headquarters. Karstadt's is in Essen and Kaufhof's is in Cologne.

Kaufhof's supervisory board is due to meet on Wednesday, the sources said.
 

© Thomson Reuters 2022 All rights reserved.