Steinhoff International Holdings reduced its loss by 70% in the fiscal year ended in September, the South African retailer’s first step toward recovering from an accounting scandal. The net loss was €1.2-billion during the period, down from €4-billion in the previous year. The owner of Conforama in France and Mattress Firm in the US was reporting its second set of full-year audited earnings in as many months following revisions to the company’s finances in the wake of the late-2017 crisis.