The new financial year July 2010-June 2011 began with the debut of the Group’s second store in Sofia of total surface 15.000sqm in August of 2010, while the Group opened two more stores in October, one in Preveza (Greece) of total surface 7.000sqm and one in Larissa of total surface 8.000sqm.
Today, the Group operates 48 stores of which 43 are located in Greece, 2 in Cyprus and 3 in Bulgaria.
The company’s management estimates that the next three stores, in Cyprus of total surface 11.000sqm, in Sofia of total surface 15.000sqm and in Ioannina of total surface 9.000sqm will open until the beginning of December. The addition of six new stores is expected to achieve the management’s target for sales increase of 2% y-o-y for the financial year 2010/2011.
Despite the difficult macroeconomic environment, the growth rate of sales for the four first months of the current financial year 2010/2011 was positive. It is worth noting that during the first quarter of the financial year 2010/2011 the Group’s sales were at last years’ levels while October sales improved the total figure for the four first months of the financial year 2010/2011.
The company will announce the results for the first quarter of the financial year 2010/2011 on November 17th, 2010 after the end of trading on Athens Exchange.