Electronics and home appliances retailer Altex has revised its sales target down from 360-370 million euros, 15% less than the 430 million-euro budget estimated at the beginning of 2008. The first downward revision of the sales target, to 400 million euros, was conducted at the beginning of the summer. "Now we are no longer looking at sales volumes, but rather at stocks and other performance indicators. We will probably end the year with 360-370 million-euro sales," said Dan Ostahie, Altex chairman. In 2007, the company posted a 314 million-euro turnover. For the last three months of the year, in the context of the worldwide financial crisis and of the reduction in the population's consumption appetite, Altex has budgeted sales worth 120 million euros, after the store network posted 248 million euros in turnover in the first three quarters of the year, up 38% against the same time in 2007. "In addition, this year, the holiday season will bring us a major sales increase, but now it would be more appropriate to talk about survival rather than about growth, given that there are companies which will leave the market in all sectors," said Ostahie.
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