Praktiker Romania, the largest DIY retailer on the Romanian market, reported net sales worth 110 million euros in the first half of this year, down 14.3% against the similar time in 2008, with the decline amounting to 1.3% in RON. The company operates 26 stores on the Romanian market, four more than at the end of the first half of 2008. "In April-June 2009, the sales decline expressed both in absolute figures, and like-for-like terms (not taking into account the network's expansion) saw a significant slowdown against the first quarter of the year, although on the DIY market as a whole, the pressure of the generalised consumption decline was felt as strongly as in the first quarter," said Michael Krahn, general manager of Praktiker Romania. The 22 stores that are older than one year saw a 23% sales decline in euros and an 11.6% decline in RON. "Moreover, the RON remained at an average level comparable to that to which it had slumped in the first three months of the year, with the pressure on sales in euros being comparable to that experienced in the first quarter," he specified. The German retailer announced it had significantly reduced investments in expanding its network in Eastern Europe due to the worsening of market conditions. The only investments in expansion in the first half of the year targeted the Romanian market, with one store opening in Focsani, and the completion of a 2.2 million-euro investment in expanding the store in Craiova by 2,000 square metres.
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