What: The Dutch department store has been hit stronger than expected during the Covid-19 pandemic

Why it is important: De Bijenkorf is part of the Selfridges group, recently acquired by Central Thailand and Signa. Analysts wonder if the new owners will solely focus on the jewel of the crown (the Selfridges London location) or if they will also helping the other ailing brand names such as De Bijenkorf or Brown Thomas.

The Dutch department store De Bijenkorf reported an operating loss of €33.3m in  2021, in spite of an increase in sales of +10%. Higher management attributes this poor performance to rising costs and Covid-19-related closures during the 2021 winter. However, they are confident that 2022 will be much brighter in terms of financial performance.

De Bijenkorf admits losses for the second year in a row