The retailer loses its challenge
Mg (parent company) showed a slight decrease in its Q3 2016 sales by 0.6% to TND220.868m. The group ended 9M with a Slight growth in turnover by 0.6% to TND633.516m. The gross margin gained 170 bps to 17.1%. At end-September, the staff costs increased by only 2.6% to TND45.825m. Thus, the staff costs/CA ratio remained stable at 7.23% (vs. 7.1% at end-September, 2015). The workforce totaled 4,117 employees. The number of stores reached 83 units at the end of September, 2016.
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