Benvenuti hasn’t recorded loss since 2009, during the financial crisis, when it posted a loss of RON1.8 million.
“Sales are now at 70% compared with last year but we have lost three months while all of our stores were closed,” said Adrian Cazu, development and retail manager at Benvenuti.
The company has 55 stores under the Benvenuti and Enzo Bertini brands, most of which are located in shopping centers, which remained closed until mid-June due to pandemic restrictions.
Benvenuti’s online sales did not compensate for the closed stores, standing at less than 10% of total sales, the company said.
Employee numbers are set to drop to 425 by the end of the year from over 500. Benvenuti closed its store in Mega Mall shopping center, where its lease expired mid-May.
“It’s the only closure so far, but we’ll see what comes next,” said Cazu.
The company opened a new Enzo Bertini in the Coresi shopping center in Brasov. The opening had been long planned. However, the company has put other planned opening on hold. Its investment budget stands at RON3 million this year, half of that in 2019 and four times lower than in 2018.