Sales of stores operated by Domo Retail, the second largestelectronics and home appliances retailer in Romania, wereinfluenced in August by the budgets of Romanians working abroad whousually return home in the last month of summer.
"In mid-August the contribution of Romanians working abroad wasfelt in the market revival, but it did not amount to the 2007-2008level. In the past week one could see that they returned to theiradoptive countries, and our daily sales fell," said LorandSzarvadi, CEO and shareholder of Domo Retail.
The company posted 15% lower sales in July compared with thesimilar period of 2009. "July was catastrophic for us because ofthe VAT hike: sales were 15% down on the year-ago period. In Augustsales rebounded, so in July-August we reached last year's level,which is acceptable considering that public sector employeesreceived their first reduced pay slip," Szarvadi specified.
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