The group operates in two segments: Fashion, which includes the sale of shoes, accessories, bags, clothing and sports items; and Living, operating in floor coverings, laminate, wall and window coverings and lighting, indoor and outdoor furniture, kitchen and home decoration items, household textiles and paint.

Sales in the segment Fashion NL core declined by 3.0% in the first quarter of the financial year, compared to similar period in 2014. Fashion Belux core also reported a decrease in sales in the period (-3.7%). The performance of these two segments resulted in a deterioration of the Fashion Benelux core business.

Online sales Fashion NL core increased 1.2 million euros to reach 7.9 million euros, while offline sales of this segment decreased approximately 2.7 million euros, totaling 39.9 million euros. Online sales Fashion BeLux core rose 0.2 million euros reaching 1.5 million euros and offline sales Fashion BeLux core were down approximately 1.4 million euros totaling 29.8 million euros.

Shoe sales of Fashion NL and Belux rose in January and February, but decreased firmly in March due to low pricing campaigns for the winter assortment (mainly clothing and winter shoes) and due to the late start of the spring season. In the first four weeks of April there was a growing demand and increase in sales at Fashion NL and BeLux.

The group has decided to dispose some segments, such as Kwantum (Living), Nea International and Fashion UK, concentrating on Fashion retail activities in the Benelux.

Still, Kwantum realized an increase in sales of roughly 5.0 million euros (+ 12%). The disposal process of Kwantum is already on course and the group confirmed there is healthy interest of several parties. Fashion UK realised increase in sales of 2.8 million euros (online + 0.5 million euros) as a result of a positive exchange rate effect of 4.4 million euros. The preparations for the sale process of Fashion UK were started.

Overall total sales of the Macintosh group increased by 0.8%, from 184.4 million euros in qurter 1 in 2014 to 185.8 million euros the first quater in 2015.

Kurt Staelens, CEO Macintosh, stated: “In the first quarter of the year, our shoe formats were forced to follow the market and clear stocks from the poor winter season. This came with low pricing campaigns, especially in clothing also, and resulted in pressure on sales and margins. The increase in sales at the start of the spring season in April demonstrates that the new collections are a hit with consumers. The shops of Manfield (12) and Young Fashion (3) where the new shop format was introduced performed clearly better than last year. This gives confidence for the future.”