Sports Direct continued to shrink in Austria

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 The  British sports discounter Sports Direct is still on a downward path in Austria. In the 2019/2020 financial year, which ended in the first lockdown at the end of April 2020, sales fell significantly from 97 to 68.5 million euros and the number of employees fell from 877 to 654.

© www.de24.news

 The  company achieved a profit after tax, but this also shrank from 1.2 million euros to around 240,000 euros.

This emerges from the recently published annual financial statements in the commercial register (“WirtschaftsCompass”). © www.de24.news

 The  negative equity was again around 115 million euros in 2019/20.

Company should continue to exist

Sports Direct also slimmed down the number of branches in the past financial year and closed four branches. © www.de24.news

 The  retailer now only has 22 branches in Austria that were once 50. Several competitors, including Intersport and XXL, have snapped up former Sport Direct branches. Sports Direct entered the Austrian market through the acquisition of the sports retail chains Sport Eybl and Experts.





[ source link ]
https://kurier.at/wirtschaft/sports-direct-schrumpfte-in-oesterreich-weiter/401196620

Sports Direct continued shrink Austria

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