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German retail and tourism holding company Arcandor AG reports 2Q loss of nearly euro140M

German retail and tourism holding company Arcandor AG reports 2Q loss of nearly euro140M

Arcandor AG, the retail and tourism holding company former called KarstadtQuelle AG, said Friday it posted a net loss in the second quarter, but said its earnings before interest and taxes swung to a profit from last year.
The Essen-based company changed its name to Arcandor last month, after it took full control of travel agent Thomas Cook and then merged it with Britain's MyTravel PLC to form Thomas Cook PLC.
Arcandor said it lost euro139.6 million (US$190 million) in the April-June period, compared with a profit of euro664.9 million a year ago, but said its results on earnings before interest, taxation and depreciation, rose to euro27.5 million (US$37.43 million) from a loss of euro69.2 million last year.
Sales rose to euro4.37 billion (US$5.95 billion) in the quarter from euro2.53 billion a year ago, including sales from its Thomas Cook travel agency. Arcandor said it adjusted the sales figures to account for the acquisition of the 50-percent stake in Thomas Cook that it bought from Lufthansa AG earlier this year.
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On the Net:
http://www.arcandor.com


Updated : 2021-08-01 19:10 GMT+08:00