2024-07-25 10:00:06
ELO Groupe, the parent company of the northern distributors Auchan, quartered its net loss in the first half of 2024, to 973 million euros, and almost a tenth of its operating loss, for sales down 1.2% to 16.7 billion euros, a situation that calls for a “strong response”, according to a press release on Thursday.
The increase in the net loss (compared to 214 million euros in the first half of 2023) is mainly explained by the reduction of the main income but also by the decrease in the profitability of the operation. Auchan decided to respond to its “current problems” among other things by reducing the sales area around a third of the hypermarket products “in all its European countries” excluding Russia, i.e. “a total reduction of 25% of sales areas “.
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