BELGIUM: Brantano FY Profit Down 84% On Dutch Woes
Leading Belgian shoe chain Brantano on Wednesday said it is still mulling over a potential merger with holding company Mitiska as it posted a steeper-than-expected slide in 2002 profit amid trouble at its Dutch unit. The operator of nearly 300 stores reported an 84 per cent plunge in 2002 pre-tax profit to $3.2 million from the year prior with sales up a lower-than-anticipated six per cent year-on-year to $322m.
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