What:  The iconic Dutch chain is getting back on track

Why it is important:  This is the third year in a row that Hema posts a profit, after a decade of losses.

Hema, a Dutch retail chain, has reported a significant increase in sales and profits, with gross sales rising 20% to 1.966 billion euros in the financial year 2022, and profit before tax rising to 31.6 million euros. The number of customers in stores and online grew by almost 35%, which the retailer attributes to a strategic course set two years ago to "make Hema really Hema again".

The new strategy is being implemented in renovated stores, with four stores reopened in March and April 2023 after extensive remodeling and successful testing of new concepts. Based on this success, Hema plans to renovate more stores by summer 2023.

Hema sales are up +20%