Lars Lund, the Danish manager who runs the kika store on theRomanian market, says the start of the year was weaker, but salesstarted to rise in the past five months, with the increase stillcontinuing, without providing details on the sales dynamics.
Asked by ZF if he was satisfied with the turnover trend in 2010so far, he answered:
"Is anyone really satisfied with the sales? No! But it is betterthen last year and with the current situation of increased VAT andreduction in government salaries I can accept the smallincrease."
Lund came to the helm of kika Romania in December last year andmanages one store in Bucharest, in West Park (next to theBucharest-Piteşti motorway). The company posted 11.8 million eurosin sales and 4 million euros in losses last year, according toTrade Registry data. Data on kika's sales in 2010 are notavailable, though.
The company continues expansion plans on the Romanian market, whichentail two stores, one in Constanţa and another one in Bucharest.Investments in the two stores could exceed 60 million euros, usingthe company's own funds, according to previous data supplied by thecompany.
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