Cora announced a 6% turnover increase in lei for 2012, but given that the Romanian currency depreciated by around 5% against the euro last year, sales actually rose by just 1% to EUR328 million, according to ZF calculations.
During the 2007-2008 period, when Cora had only three hypermarkets in Romania, the company’s turnover stood at around EUR400 million, with Cora at the time boasting the highest sales per store in Romanian retail.
Last year was the first year of full functioning for Cora stores that opened in 2011 in Arad, Constanta and Severin, as well as for two end-of-the-year openings in Bacau and Bucharest.
Cora representatives had not commented on the turnover performance by deadline.
The company plans to open two more stores in 2013, in Constanta and Ploiesti, bringing the chain to 12 units.
(English version by Daniela Stoican)