Germany's Praktiker network, the biggest DIY retailer domestically, with 257m-euro turnover in 2009, in the third quarter of this year saw its sales fall by 25% against a year ago, the steepest decline since the company arrived in Romania, eight years ago.
Praktiker slowed down its expansion pace as early as last year, opening a single store in 2009, in Focsani, while this year it opened a store, in Botosani, but a smaller one.
Under the circumstances and after the VAT hike as of July 1, sales revenues dropped by 25% in the third quarter, to 57.2m euros, while the nine-month decline amounts to 18%, to 153.6m euros.
Praktiker operates a 27-store network in Romania, the biggest one outside Germany. On the other hand, the Romanian decline is the steepest among all the foreign markets the group operates on.
Thus, Dedeman domestic retailer, controlled by brothers Adrian and Dragos Paval, is likely to become the new leader of the DIY market at the end of this year, as the company expanded further, launching six stores since mid-2009.
Germany's Praktiker network, the biggest DIY retailer domestically, with 257m-euro turnover in 2009, in the third quarter of this year saw its sales fall by 25% against a year ago, the steepest decline since the company arrived in Romania, eight years ago.
Praktiker slowed down its expansion pace as early as last year, opening a single store in 2009, in Focsani, while this year it opened a store, in Botosani, but a smaller one.
Under the circumstances and after the VAT hike as of July 1, sales revenues dropped by 25% in the third quarter, to 57.2m euros, while the nine-month decline amounts to 18%, to 153.6m euros.
Praktiker operates a 27-store network in Romania, the biggest one outside Germany. On the other hand, the Romanian decline is the steepest among all the foreign markets the gr
