German group Praktiker, which holds one of the most extensivechain of DIY stores on the Romanian market (27) and was leader ofthe DIY market until 2009, posted the biggest sales decline in thefourth quarter of last year, by 33%, with each store posting adaily average of 17,000 to 18,000 euros' worth of sales. TheGermans recorded 40 million euros' worth of sales in the last threemonths of 2010, while full 2010 sales stood at 193.6 million-eurosales, down 22% on the preceding year.
Officials of the German company blame the sales decline on VAThike from 19% to 24% over the course of last year. "VAT was raisedlast year in Greece and Romania by 4% and 5% respectively.Similarly to what happened in Hungary a year before, thesedecisions led to a significant decline in demand, adding pressureon the gross profit margin," reveals the report of the Germancompany.
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