XXL has since July 2023 implemented its Reset & Rethink strategy with
aim for an EBITDA uplift of 500-750 million in 12-18 months. The Reset
& Rethink strategy encompasses the five “Must-Win Battles” Category
Reset, Availability, Store Operations, Pricing, and E-Commerce
Profitability. The strategy is progressing well and is expected to
boost performance in 2024 and 2025.
Other initiatives that have been executed and will improve the overall
profitability is exiting the unprofitable operation in Austria, launching of
a new customer bonus program. The company will continue its focus on
cash management, cost reductions and exploring new ways of working.
XXL exited Denmark in Q1 2024 to focus on its three core geographies:
Norway, Sweden and Finland