×
155
Fashion Jobs
PRIME PLACEMENT AND MANPOWER SERVICES
International Sales Executive - Female - Khokhra - Ahmedabad
Permanent · Ahmedabad
CAPITAL PLACEMENT SERVICES
Cfo For International Funding For 1000 Crore Company in Gujarat
Permanent · Vadodara
NEEJ
Business Development Manager
Permanent · MUMBAI
LIFESTYLE BRANDS
Regional Sales Manager, Peter England - Bangalore
Permanent · BENGALURU
KITEX GARMENTS LIMITED
General Manager - Merchandiser
Permanent · ALUVA
ZODIAC CLOTHING CO LTD
Sourcing Officer (Fabric & Garment)
Permanent · MUMBAI
LIFESTYLE BRANDS
Head of Marketing, Louis Philippe - Bangalore
Permanent · BENGALURU
LIFESTYLE BRANDS
Group Manager - E-Commerce Product (B2B)
Permanent · BENGALURU
LIFESTYLE BRANDS
Manager - Product, Louis Philippe
Permanent · BENGALURU
PANTALOONS HO
Senior Executive - Marketing
Permanent · PUNE
LIFESTYLE BRANDS
Manager - Trade Channel, Finance
Permanent · BENGALURU
LIFESTYLE BRANDS
Executive -Key Accounts (Mis),lp
Permanent · BENGALURU
LIFESTYLE BRANDS
Senior Executive - Garment Technician (ww &Amp; Kids), Pdqa
Permanent · BENGALURU
LIFESTYLE BRANDS
Sales Executive - Kannur &Amp; Kasargod
Permanent · BENGALURU
HIGH FASHION GARMENT COMPANY
Manager Humanr Resource (Male) From Mumbai Only
Permanent · MUMBAI
RAJ KHATRI FILMS PVT LTD
Digital Marketing Executive
Permanent · MUMBAI
ANANDGUPTA COUTURE
Social Media Marketing & Fashion Design Assistant
Permanent · MUMBAI
DESIGNR
Sales Officer
Permanent · NEW DELHI
NETE.IN
CRM & Logistics Executive
Permanent · MUMBAI
FABINDIA OVERSEAS PVT. LTD.
Retail Planner
Permanent · NEW DELHI
SELECTIVE GLOBAL SEARCH PVT. LTD.
Business Development
Permanent · NEW DELHI
AJIO - RELIANCE INDUSTRIES LTD
Sales Officer
Permanent · KARIMNAGAR

Hudson's Bay's Kaufhof on track for another big loss

By
Reuters API
Published
today Mar 22, 2018
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hudson’s Bay’s Kaufhof unit is set to report another loss of more than 100 million euros ($123 million) for the fiscal year that ended on Jan. 31, a German magazine reported on Thursday.




Without citing its sources, Manager Magazin reported that Kaufhof was suffering because of rental increases amounting to 50 million euros annually imposed on it by Hudson's Bay, which is also Kaufhof's main landlord. A Kaufhof spokesman declined to comment.

Hudson's Bay is due to report fourth-quarter figures on March 28.

Last month, Reuters reported that Hudson's Bay plans to reject a 3 billion euro bid for Kaufhof from Austrian property and retail group Signa Holding GmbH, according to people familiar with the matter.

Signa tried to buy the business in 2015, but Hudson's Bay, which also owns the Saks Fifth Avenue luxury department store chain, outbid it by paying 2.5 billion euros including debt for Kaufhof as well as its Belgian subsidiary.

Since then, Kaufhof's finances have deteriorated to the point where vendors are finding it more difficult to find trade credit insurance to make shipments.

Hudson's Bay financed the Kaufhof acquisition by using a joint venture that acquired Kaufhof's real estate and became its landlord. The financial engineering backfired as Kaufhof struggled to cope with higher rents that the joint venture imposed as well as declining foot traffic in stores.

As he seeks to trim costs, Kaufhof boss Roland Neuwald wants to strike a new deal with service trade union Verdi by this summer, he said in an interview with Germany's Frankfurter Allgemeine Zeitung published on Thursday.

© Thomson Reuters 2019 All rights reserved.