BERLIN — Despite dramatic losses in its Karstadt department store division, the troubled Arcandor AG retail and travel group reported a 19.4 percent increase in adjusted group earnings before interest, taxes, depreciation and amortization for the year ended Sept. 30. Adjusted group sales for the period slipped 1.1 percent.
EBITDA for the Thomas Cook Travel, Primondo catalogue-home shopping and the Karstadt department store divisions reached 820.2 million euros, or $1.23 billion, on group sales of 19.91 billion euros, or $29.95 billion. Bank and other financial debt totaled 802 billion euros, or $1.21 billion. All dollar figures are converted from the euro at an average exchange rate for the period.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)