×
42 604
Fashion Jobs
BLOOMINGDALE'S
Division Sales Manager: Bloomingdale’s 59th Street Flagship, Nyc
Permanent · New York
SALLY BEAUTY CORPORATE
Outside Sales Representative - Professional Beauty
Permanent · Kansas City
CLARKS
Assistant Wholesale Marketing Manager
Permanent · Waltham
ADIDAS
Manager Outbound Operations
Permanent · Spartanburg
ADIDAS
Senior Manager, Performance Marketing - Membership (Digital)
Permanent · Portland
ADIDAS
Logistics Manager
Permanent · Pittsburgh
ADIDAS
Technical Manager Maker Lab
Permanent · New York
GAP
Senior Producer- Digital Operations – International Promotions
Permanent · San Francisco
GAP
General Manager- Macarthur Park
Permanent · Irving
HUDSONS BAY COMPANY (HBC)
Analyst, Supply Chain
Permanent · Brampton
PUMA
Analyst, Business Intelligence - Consumer Insights
Permanent · Westford
L'OREAL GROUP
Buyer - (Purchasing/Procurement/Indirect Sourcing)
Permanent · Berkeley Heights
DESIGNER BRANDS
Director, Marketing Advanced Analytics
Permanent · Columbus
THE REALREAL
Sales Analyst, Business Strategy And Analytics
Permanent · San Francisco
THE REALREAL
Authentication And Brand Compliance Lead
Permanent · Perth Amboy
OLD NAVY
Assistant General Manager, Merchandising - Crossroads at Baileys
Permanent · Falls Church
COTY
E-Commerce Key Account Sales Manager
Permanent · New York
RALPH LAUREN
Ralph Lauren Stores - General Manager, Naples
Permanent · Naples
A & F
Brand Marketing Manager, Abercrombie & Fitch - Emea
Permanent · London
RAG & BONE
Sales Supervisor (Full-Time) - Brentwood
Permanent · Los Angeles
GIII APPAREL GROUP
Denim Design Director
Permanent · New York
ALICE AND OLIVIA
Sales Supervisor - Los Angeles
Permanent · Los Angeles

German department store Kaufhof needs cost cuts after poor Xmas

By
Reuters API
Published
today Jan 23, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

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 2020 All rights reserved.