After several years with store openings is that the shift strategy of the retail chain Flying Tiger Copenhagen, which instead will grow in the existing stores.
It is, however, associated with costs, and last year the chain lost 224 million after tax. It shows the accounts from the Flying Tiger Copenhagen.
- After several years of a successful international expansion, we are now in time with a consolidation strategy.
- It is more objective is to improve the operational development with a greater earnings and better cash flows than it is to focus on expansion, writes Flying Tiger Copenhagen in the financial statements.
Even though the last year has seen a triple digit milliontab, so can the chain be pleased that the loss is not as large as that of the 541 million dollars that were lost the year before.
Positive is that the chain's operating profit and net profit before financial items and tax has increased to a plus of 68 million from an outflow of 210 million kroner the year before.
the Danish newspaper Jyllands-Posten erhvervsmedie, Finance, explains Martin Jermiin, managing director of Flying Tiger Copenhagen, to last year's big minus on the bottom line have been expected and planned for.
Both we and our stakeholders (stakeholders, ed.) are happy with the result, we have delivered.
- It costs money to clean up, but compared to the road we are on, and the operating profit we generate, we are well satisfied with the result, he says, to Finance.
At the end of last year had Flying Tiger Copenhagen, a total of 909 stores worldwide. It was inclusive of 'joint ventures', which are collaborations with other companies.
in comparison, there were 915 stores a year earlier.
Over a number of years, the turnover in the Flying Tiger Copenhagen has been increasing, as there are opened several stores.
But along with the slightly fewer number of stores last year, sales dropped a little.
the Turnover last year ended at about 5.2 billion kroner.