Tuesday, November 09, 2004
MAARSSEN, Netherlands (November 9) – German chain store Karstadt Quelle has announced that it will continue to expand its number of dedicated sports stores. The company is currently working on a 4,000 square metre unit that should open in Karlsruhe early next year.
The shop will include a ‘sportsstyle’ section to define the segments better. When this shop will be completed, Karstadt Quelle will have 37 sports stores in Germany. These investments are in contrast to the actual sales results of the company. Mail order division Quelle took the biggest blow, and total decline was 7% - after a 6% drop over the first 9 months of 2004.
Karstadts’ bankers have agreed to keep backing the company at least until the end of the year, but their some of the stockholders, like Riedel (a holding of the Schickedanz group) have reduced their stakes from 12.24 to 2.46% already.
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