Thus, the company posted a net loss of around 50,000 lei (EUR11,000) in 2013 compared with profit of RON1.7 million (EUR0.4 million) in the previous year.
In the same period, the company saw its revenue rise by 3% to RON70.2 million as it opened just one new store in 2013, in Promenada Mall.
Catalin Pozdarie, the retailer’s head, recently said that while the group had set off with high expectations, 2013 was a challenging year and 2014 is due to be the same considering the current economic and political context.
Hervis, the sports retail arm of Austria’s group Spar, entered Romania in 2007 with a store outside Bucharest. It then focused both on Bucharest and the main cities of the country where competition is lower.
Hervis owns 13 stores in Romania and opened just one unit in 2013. As a matter of fact, in each of the past three years the company opened only one unit, compared to three units during its first years of presence.
For 2014, the retail plans to open two or three stores, but Pozdarie recently stated the number of new stores depends on real estate developers as the company seeks only shopping center spaces.
The retailer initially planned to open 40 stores by 2013, but the crisis upset its estimates.
(English version by Catalina Apostoiu)