The Dutch fashion department store De Bijenkorf reports a slightly positive result for 2022. Sales rose above 2019 levels, but increased costs for energy, transport, packaging and personnel, among other things, weighed on the result.
The company was able to generate a profit of 2.8 million euros, compared to a loss of 31.8 million euros in 2021. Compared to the 2021 financial year, sales (including concession and order picking) increased by 25.3 percent. Normalized EBITDA was 51.5 million euros compared to 16.6 million euros in the previous year.
The reason for the positive result is, on the one hand, the fact that the Bijenkorf branches were open all year round without restrictions in 2022 for the first time since 2019. In 2022, 122 percent more visitors came to stores than in the previous year, when stores had to remain closed for seventeen weeks due to Covid-19. Online visitor numbers fell by 15 percent after the online boom in 2021. In response to the increased costs of international webshops in webshops in Germany, France, Wallonia, Luxembourg, Austria and Monaco, the company decided to close them in 2023. However, the webshops in the Netherlands and Belgium as well as the branches achieved a positive operating result, according to the company. The offering in stores and online was further expanded with selectively distributed brands such as Tiffany, Bottega Veneta, Byredo and Jacquemus.
“We have shown over the past year that we are resilient. We have taken a nice step forward, but at the same time we note that we have achieved a very modest operating profit and still have a long way to go. In addition, the consumer “We’re keeping a closer eye on things, which makes the retail environment very challenging,” says Giovanni Colauto, CEO of de Bijenkorf.