Dutch high street company Hema posted a loss of just under €190m in 2014, up sharply on 2013. Sales fell 1.3% to just over €1bn despite the opening of 17 new stores, the company said in a statement on Wednesday.

The news, described by the company as ‘disappointing’, prompted the resignation of chief financial officer Ad Walter. Last month, CEO Ronald van Zetten also resigned.

Without one-offs, which include €120m in goodwill, the loss would have been in the region of €43m. Hema posted a loss of €16m in 2013 on sales down 5% at €1.1bn.

Last November, Hema was voted the ‘most unmissable’ Dutch brand for the seventh year in a row. Hema, which only sells own-label products, is regularly cited as one of the biggest Dutch brands and one of the things Dutch expats most miss when they live abroad.

The company was founded in 1926 and has been owned by Lion Capital since 2007.