GERMANY: KarstadtQuelle Forecasts 25 Per Cent Profit Rise
Europe's biggest department store group, KarstadtQuelle, is forecasting a 25 per cent raise in full year profits, despite poor retail conditions. The German firm says that a strong performance from its department stores made up for weaker results from its mail order business. Pre-tax losses in the first half narrowed by 17.3 per cent to Euros 40.9m from Euros 49.5m the previous year.
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