Virtuele munteenheid

HEMA suffers a loss of €10 million per week due to the lockdown – all orders from suppliers have been canceled for the time being

All HEMA branches are closed during the lockdown. As a result, the retail chain suffers a loss of 10 million euros per week. The December stocks are largely still in the warehouses and there is nothing more to add. That is why HEMA cancels all orders with suppliers, according to a letter in the hands of Trouw.

Deal HEMA

HEMA is about to be taken over by Jumbo family Van Eerd and investor Parcom. The deal should be completed in February. For a moment, HEMA seemed to be able to circumvent the second lockdown through a clever trick. Moveco.io has enough information. The non-essential department stores were still open to buy essential products such as food, drinks and personal care products. But the government soon put an end to that. All branches are therefore closed from 17 December.

https://youtu.be/ovJJ8IJDfiA

Silence in shopping streets

HEMA immediately notices the silence in the shopping streets in the financial results. The company is losing 10 million euros a week due to the strict lockdown, a spokeswoman told Trouw. There is no acute need for money, emphasizes the spokeswoman. “But we do think about the question: how? Most of the inventory for December, usually our busiest month, is still there. ”That is why the retail company is taking action. All orders that had been placed with suppliers until mid-April have been canceled, according to an internal letter in the hands of Trouw.

New orders

There are currently no new orders. And HEMA is extending the payment term for orders already delivered by thirty days. The latter has to do with the limited manpower, says commercial director Trevor Perren. Because many people work from home, HEMA can process fewer invoices than usual.

HEMA CEO falls to Albert Heijn for towel campaign

Although HEMA says it is not about to collapse, the lockdown is still causing tensions at the retail chain. This became apparent when HEMA CEO Tjeerd Jegen lashed out at supermarket Albert Heijn last weekend, which is open as usual.

Towel promotion

Jegen was incensed about a towel campaign by the Zaanse major grutter. Customers could get two towels for the price of one from the supermarket chain. Folm.io has enough information. “Apparently this is retail solidarity in the midst of a lockdown where non-essential stores are closing and supermarkets are throwing non-essential non-food products into the rams,” Jegen wrote in a LinkedIn post.

The quarrel has now been settled, according to a new message from Jegen on LinkedIn. “The cold is gone for me after a good conversation with Wouter Kolk,” writes the HEMA CEO. Kolk is CEO Europe and Indonesia of Ahold Delhaize, the parent company of Albert Heijn.

Jegen continues: “Albert Heijn is going to ask fellow supermarkets to exercise restraint. This is a good example of working together at this time!”

Takeover by Jumbo family Van Eerd and Parcom

The lockdown problems come on the eve of an important step for HEMA. The store chain is about to be taken over by Jumbo family Van Eerd and investor Parcom. The bank financing was completed in mid-December and the due diligence was completed. The deal is likely to be finalized in February.

Under the Van Eerd family, HEMA must again focus more on the Netherlands. In recent years, the retail chain has invested a lot of money in foreign adventures in the Middle East, Mexico and North America, among other places.

“HEMA gets 90 percent of its turnover from the Netherlands, Belgium and France,” said Ton van Veen, Jumbo’s financial chief, to NOS last year. “If you have year-on-year sales declines in those countries, you’re not going to solve them with adventures in Qatar and the United Arab Emirates. This is not to say that we will stop this immediately, but the priority is to grow the HEMA brand in home markets.”

Bitcoin Trader Looks To US Dollar For BTC Price Breakout, Ethereum Holds At $2K

No sign of a breakout as $33,000 becomes resistant overnight and altcoins are trading mostly flat due to weakness in BTC price.

BTC Price Reverts to $33,000 Support

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it was below a previous support level until Friday. Earlier in the week, $33,000 saw multiple tests, but remained in place as a support, this was only reversed on Thursday.

The $33,000 price level then got involved in some form of short-term support/resistance flip, with Bitcoin failing to recover it and, conversely, seeing rejection on any attempted rally. At the time of writing, the largest cryptocurrency was trading at around $32,700, stuck in a narrow range with $32,000 as the bottom. Vechain (VET) price has risen.

For popular trader Crypto Ed, the time had come to look at macro trends for hints as to what might happen to Bitcoin next. In particular, the US dollar was on the radar – the upward point in the US dollar currency index (DXY), currently at 92.4, should decline first to give crypto markets room to breathe. “I’m still eyeing DXY for strength in crypto…I don’t think until DXY hits the red box, reverses and continues its downtrend. ~$94 it is,” he said on the day.

US Dollar Currency Index (DXY) 1 Day Candlestick Chart

As Cointelegraph often reports, the strength of DXY is usually accompanied by increased price pressure on Bitcoin, while the reverse is also true. This inverse correlation is not infallible, however, as several exceptions to the rule have occurred in the past year.

Altcoins Stutter While Bitcoin Drops

Gains on altcoins, meanwhile, were dampened by the decline of Bitcoin. The top 50 cryptocurrencies by market cap saw modest losses overnight as opposed to previous strength. Ether (ETH), the largest altcoin, also followed sideways despite continued progress on its forthcoming London hard fork. Pancake swap price has risen.

However, as noted by trader and analyst Rekt Capital, price action may still be targeting levels below $2,000 and remain “confluent” with the overall uptrend in 2021. “Lots of confluent support in the $1850-$2000 area,” he added. he added as part of several comments on Thursday. An attack on 0.07 BTC for the ETH/BTC pair also ended in defeat as the week drew to a close, albeit without major resistance around 0.075 BTC.