Lars Lund, the Danish manager who runs the kika store on the Romanian market, says the start of the year was weaker, but sales started to rise in the past five months, with the increase still continuing, without providing details on the sales dynamics.
Asked by ZF if he was satisfied with the turnover trend in 2010
so far, he answered:
“Is anyone really satisfied with the sales? No! But it is better
then last year and with the current situation of increased VAT and
reduction in government salaries I can accept the small
increase.”
Lund came to the helm of kika Romania in December last year and
manages one store in Bucharest, in West Park (next to the
Bucharest-Pitești motorway). The company posted 11.8 million euros
in sales and 4 million euros in losses last year, according to
Trade Registry data. Data on kika’s sales in 2010 are not
available, though.
The company continues expansion plans on the Romanian market, which
entail two stores, one in Constanța and another one in Bucharest.
Investments in the two stores could exceed 60 million euros, using
the company’s own funds, according to previous data supplied by the
company.