The retailer has a 124-store chain, of which five units opened in the first half of 2018 and six refurbished or relocated. The store chain is expected to exceed 132 work sites until the end of 2018.
Flanco‘s strategy focused on expanding its foothold countrywide, mainly in medium and small towns, and consolidating its presence in the cities with high demand (Bucharest, Iasi, Suceava).
In January, the company completed the restructuring process, which also included closure of unprofitable stores, mainly those within some shopping malls.
In April 2018, the retailer inaugurated Flanco Mihai Bravu Bucuresti, Romania’s first outlet of electro-IT products. Following an ample makeover process, the store’s visitor traffic rose by 47%.
In 2017, the company had a net profit of RON5.18 million (EUR1.13 million), up 72.4% on the year, according to data sent by the company to the Finance Ministry. The net profit margin was just 0.53% of the RON983.3 million (EUR215.3 million) turnover. Compared with 2016, the company’s turnover grew by 7.2%, Finance Ministry data show.