WORLD NEWS

Blokker Holding posts €344m loss in 2017

Published on: 30th May 2018

The Dutch retailer expects further loss in 2018.

High street household goods group Blokker Holding posted a loss of €344m last year, almost double the loss from the year before, the company said in a statement on Tuesday.

Total sales over the year fell by some €400m to €1.6bn, due to both divestments and weak sales results, the company said. Online sales via the Blokker.nl webshop rose 25% and now account for 15% of total sales.

Blokker Holding began a major overhaul of its high street stores last year because both sales and profits had been under pressure for years. Part of the reorganisation involved the sale of the Leen Bakker and Intertoys chains, which were also part of the holding.

Acting chief executive Michiel Witteveen said in a statement: “The trend fortunately appeared to be gradually broken at the end of the year at Blokker with growth in revenue due to increased footfall and higher conversion rates. These are all cautious signs that things are looking up.”

The company said: “A transformation of this size requires time, and Blokker Holding expects to end 2018 at a net loss.”

RECENT ARTICLES

The July issue of Toy World is out now

BTHA presents Golden Teddy Award to Tim Hall

Gabe Hicks appointed senior game designer at Steamforged Games

B&M sees group revenue drop 2.2% in first quarter

Smart Toys and Games releases limited edition version of Jump In

McDonald’s UK to launch Paddington Happy Meals

Beano to celebrate 85 years with new consumer products

Former US Toys ‘R’ Us executives set to face trial over 2017 bankruptcy proceedings

Richard Dickson to deliver BLE opening keynote on Barbie

Playtime PR undergoes management restructure