Belgian footwear retailer, the Brantano Group, generated a turnover of € 67.8 million in the first quarter of 2005, a fall of 4.1% as compared to the € 70.8 million achieved in the first quarter of 2004. This was said to be due to the fact that the company’s shops in the Netherlands and Denmark are no longer included in the consolidated figures following their sale.
On a comparative basis (excluding the Netherlands and Denmark) turnover rose by 2.2%, due to a marked increase in sales in the UK outlets. In the first quarter of 2005 the sale of the Dutch shops was finalized and will have no affect on the result of 2005. On March 17, 2005 Brantano announced the cessation of the Danish activities. In the meantime a sales agreement was concluded for 13 of the 14 shops with several well established Danish retailers.
