Dutch retailer Jan Linders said that it has 'got off to a good start' in the first half of its financial year, following a challenging 2019 trading period.
The business said that it exceeded market growth in both the first and second quarters, while 'substantial steps' have been taken in terms of reducing costs, in line with its financial recovery plan.
2019 Performance
In financial year 2019, the business posted turnover growth of 6.5%, however logistics issues led to an increase in costs, and consequently an operating loss for the year, of €238,000.
The group posted turnover of €457 million for the year, from a portfolio of 61 stores, of which 38 have been upgraded to a new operating format.
The group appointed a new general manager, Ferry Moolenschot, at the start of the year, as well as installing a new commercial director, Bernd Weustink, on 1 July – appointments which mean the 'Jan Linders management team is ready for the future', the group said in a statement.
It plans to open its 62nd Jan Linders supermarket in Wageningen this coming September.
Positive Start
A 'significant improvement' in performance in the first half of the year had already been achieved prior to the coronavirus crisis, the retailer said, meaning that the business has 'every reason to look to the future with confidence'.
Commenting on Jan Linders' response to the coronavirus crisis, Moolenschot praised the efforts of the group's employees.
"In the second quarter, the whole of the Netherlands was confronted with the coronavirus crisis and the associated measures and limitations," he said.
"This has certainly had an impact on our business operations, but the way in which our organisation has adapted very quickly shows that we are alert and decisive. I am proud of our people and the way in which they handled these challenging circumstances."
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
