According to an article in Swedish trade publication ehandel.se, e-commerce company Footway Group closed its second quarter with a loss of nearly SEK 27 million (€2.54m). The company’s sales also fell by SEK 100 million from SEK 387 million last year to SEK 282 million (€26.57m) in the second quarter of this year. Footway CEO Daniel Muehlbach told ehandel that his company recognized earlier in the year that supply chain challenges would have a negative impact in 2022, calling the bundle of global challenges in logistics and manufacturing, plus high inflation and slowing consumer spending “a perfect storm.” According to the article, Footway is now carefully reviewing all costs to return to profitability.
