The retailer, present in Romania with 12 hypermarkets, will open three new drive-ins this year beside the one available in Lujerului area. However, the network will open no new stores, with the last one being opened a year and a half ago in Ploiesti.
“In 2015, Cora Romania decided to focus on increasing the results of existing stores. Moreover, we also decided to focus on the online section of our business, on expanding the coradrive.ro platform and we plan to open no less than three new drive-ins this year,” say the network’s officials without providing further details.
French-Belgian retailer Cora launched coradrive service in late 2013. The company’s officials initially estimated they would reach an average of 90 orders per day, in the context where the average value of an order stood at RON220 last year, more than double the one n Lujerului store. In December 2014, the company also launched home delivery in Bucharest and neighboring areas.
Over the past two years, retailers have started focusing on the online segment. The first to open such a store was French Carrefour, followed by Cora.
Cora representatives said at the moment they launched the drive-in service they expected it to account for 5% in Cora Lujerului store revenue in 2014, meaning sales of RON22 million (EUR5 million), according to ZF estimates.
Cora Lujerului store is the best hypermarket of the French-Belgian network. Of the total network, 4 hypermarkets are located in Bucharest, but these contribute around 80% to the network’s receipts, according to ZF estimates.
The store of Lujerului alone has receipts of around RON450 million, 26% of the total. As a matter of fact, this is one of the best 3 hypermarkets in Romania, together with Carrefour Orhideea and Auchan Titan.
Cora revenue posted moderate growth during the crisis, rising by just 16% in 2008-2014, though the number of stores rose four times. Cora slowed down expansion in Romania since early 2013 as the group’s officials are not satisfied with financial figures, according to market sources. Cora halted several of the projects that were due for development both on own land plots and in shopping centers.
Despite the crisis, Cora Romania initially announced ambitious expansion plans. In early 2012, Cora announced it planned to open 20-25 stores in Romania by 2015. However, just four units have been opened since then.
Cora is currently the least expanded chain in Romania, so that it may be a target for rival Carrefour or Auchan. Moreover, market sources said the French-Belgian group is mulling even the network’s sale by pieces.
(English version by Catalina Apostoiu)