High street retail group Hema on Wednesday announced a net loss of €14.8m in the third quarter, compared with a €4.6m loss in the year earlier period.

Turnover in the third quarter fell from €281m to €271m. The first nine months of the year saw turnover fall by €14.4m to €774.9m, giving a net loss of €67.1m.

CEO Ronald van Zetten said in a statement that it had been ‘a challenging quarter’ but that the group had performed ‘in line with the Dutch retail market which is still not in recovery’.

Last month, Hema was voted the ‘most unmissable’ Dutch brand for the seventh year in a row.