Systemax's UK arm, which trades under the Misco banner, continued to blot the global reseller's copybook in its Q3, despite overall EMEA results improving.
For the three months ending 30 September, US-based Systemax saw net losses widen from $2.8m to $10.3m, year on year, on revenues that slid 15.3 per cent to $699.3m.
Much of the sales and profit shortfall is attributable to the fall-out from its US retail exit and currency headwinds.
But although EMEA operating results improved for a second consecutive quarter, the UK let the side down as both sales and profits from its largest European operation continued to fall.
Overall EMEA sales tumbled 13.4 per cent in dollar terms to $241.8m but were flat stripping out the impact of the weak euro. France enjoyed an "exceptional quarter".
"In EMEA Technology, sales were flat on a constant currency basis and we improved our operating performance as we benefited from growth in France and bottom line improvements in all our markets except for the UK," chief executive Richard Leeds stated.
"Results in the UK remain soft and our new management team is focused on improving its performance," said chief executive Richard Leeds.
Systemax recently poached a new EMEA boss and UK executive vice president from rival Insight. On a Q3 conference call - a transcript of which can be found here - Leeds indicated the new management are already shaking things up.
"In the UK, our new leadership has undertaken an extensive review of our operations and implemented a number of steps to improve our ability to serve the market, including addition of new sales leadership," he said.
In Q3, Systemax recorded one-time costs of $2.3m relating to its US retail exit and, as of 30 September, the firm said it had exited and settled 20 of the 30 standalone retail stores it closed in Q2.
Overall Q3 sales in its North America technology group fell 31.3 per cent to $276.1m on an annual comparison.
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