Heureka’s fiscal year begins in April, and the company is now opening the current one under a new regime. According to information from CzechCrunche, the price comparator and shopping advisor dismissed 100 of its approximately 600 employees on Tuesday. The information was subsequently confirmed by the company itself, but did not comment on specific numbers or other details.
“Heureka Group is affected by the global trend of increasing pressure for efficiency in the technology and IT sector. It is important to react quickly to events that happen not only in the e-commerce sector, but also in the entire macroeconomic environment. That is why we are making changes in the company, including changes in individual teams and in the combination of their expertise and skills,” said press spokesman Martin Žabka when asked by CzechCrunch.
What specifically led to the steps is not known. According to the data of Heureka itself, e-commerce in the Czech Republic has returned to year-on-year growth of at least a few percentage points in the last two quarters – i.e. the last quarter of last year and the first quarter of this year – which indicates that the situation on the retail market is improving.
According to the latest published economic results for the fiscal year ending in March 2023, Heureka Group slightly increased its net turnover year-on-year from 1.56 billion crowns to 1.591 billion. However, the economic result was negative and increased from the level of 310 million crowns to 385 million crowns.
The group’s net turnover also grew in the interim period from April to September last year, when, according to unaudited results, it increased year-on-year from 876 million to 942 million. And the loss also decreased, when the economic result fell from 330 million to 294 million. Years ago, Heureka raised over three billion to finance its growth by issuing bonds from investors.
This is not the only major innovation in the recent period. Tomáš Braverman unexpectedly left the post of director of Heureka Group after ten years last September and was replaced by David Chmelař, who previously built and sold the “equivalent of Heureka” in Southeast Asia. Braverman then recently announced that he will take up the position of Slevomat director from July.
Another significant change in Heureka was the change in the ownership structure last year, when in May Jakub Havrlant’s Rockaway Capital sold its original 20 percent stake to the other two owners – the PPF group and Daniel Křetínský’s EC Investments. In the same transaction, Havrlant also sold a stake in the Fast ČR electronics store chain, while on the other hand it acquired a majority stake in the Vivantis e-shop group.
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