Dutch retailer HEMA ended 2020 with a loss of €215 million, it announced Tuesday.
HEMA called 2020 one of the most difficult years in its history.
The closure of shops due to the coronavirus pandemic weighed heavily on turnover, which fell by 15.5% to €1.1 billion. Operating profits fell by two-thirds.
The retailer, which was recently acquired by the Van Eerd family and the Dutch investment company Parcom, saw its online sales double in 2020 compared to the previous year.
A non-recurring asset impairment charge weighed on the result, which would otherwise have been a loss of €150 million.
The Brussels Times