Altex Megastore in Constanta

Altex Group has invested 700,000 euros in an Altex Megastore that will sell electronics and home appliances in Constanta. The store covers an area of 1,600 square metres and was opened at the end of last week in the Cina complex, with the number of products on sale exceeding 5,000. Altex Impex SRL, the company that owns the electronics and home appliances chains Altex, Altex Megastore (stores of more than 1,000 square metres) and Media Galaxy (stores of more than 2,000 square meters), made 170 million euros” worth of sales last year (including VAT). Plans for this year by the retailer, which at the end of 2004 had 115 Altex stores, six Altex Megastores and four Media Galaxy stores, include 220 million euros” worth of sales (including VAT). Altex”s sales in February amounted to approximately 20 million euros, according to company estimates, of which around 70% were made through instalments. ZF