BERLIN — Better-than-expected holiday sales in its Karstadt department store chain and increases in the Thomas Cook travel business helped Arcandor Group increase EBITDA in the first quarter.
After losses in recent quarters, the 127-door Karstadt division reported a 2.4 percent increase in adjusted earnings before interest, taxes, depreciation and amortization to reach $183.7 million, or 139.3 million euros, for the three months ended Dec. 31. Sales eked out a 0.1 percent rise to reach $1.67 billion, or 1.27 billion euros. Karstadt’s fashion sales were up 4 percent, the group said.
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