GERMANY - JANUARY 30: Thomas Middelhoff, chief executive officer of Arcandor, reacts during a news conference in Duesseldorf, Germany, on Wednesday, Jan. 30, 2008. Arcandor AG, the German department-store company that controls travel operator Thomas Cook, said nine-month profit was almost wiped out by tax payments and writedowns for units that it no longer owns. (Photo by Wolfgang Von Brauchitsch/Bloomberg via Getty Images)

GERMANY - JANUARY 30:  Thomas Middelhoff, chief executive officer of Arcandor, reacts during a news conference in Duesseldorf, Germany, on Wednesday, Jan. 30, 2008. Arcandor AG, the German department-store company that controls travel operator Thomas Cook, said nine-month profit was almost wiped out by tax payments and writedowns for units that it no longer owns.  (Photo by Wolfgang Von Brauchitsch/Bloomberg via Getty Images)