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Spain: Eroski reports loss

Grocery giant Eroski has reported a net loss of €50m for its fiscal first half, ending 31 July, even as sales declined by 3.8% to €3.1bn. The group attributed the weak results to the “unfavourable macroeconomic environment” and one-off gains made last year from the sale of real estate assets.

Eroski also admitted to a 0.9% decline in customer traffic for the half, but said it continues to work on improving the financial stability of the company through "selective restructuring investment and asset reduction".

Source: www.kamcity.com