Vendex KBB report good sales in first quarter

In the first quarter of the 2002/2003 fiscal year (February to April inclusive), Royal Vendex KBB N.V. saw most retail sales figures rise. During this period, net sales on continuing activities increased by more than 3% to EUR 946 million. This amount does not include the sales of the six group companies that were sold to CVC.

The rise in sales figures is satisfactory against a backdrop of current market developments and a strong decline in consumer confidence. Recent figures released by the Netherlands Statistical Office show that gross sales in the non-food retail sector increased by 3.4% during the first three calendar months (January to March inclusive). The increase can be attributed in its entirety to price rises, given that the sales volume was down by 1%. Consumers were particularly hesitant about making large purchases.

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(source: Vendex KBB)

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