“For few weeks I have noticed a slight decline in sales, as clients are moderate in spending in the context of financial crunch. I believe the effect of the shock caused by recent news will be lessened in few weeks and consumers will get used to the situation, however it depends on the news coming from international markets,” Jiri Rizek, CEO Flamingo International said to Wall-Street.
According to him, the market will recover in the fourth quarter, and will continue its upside path , whereas Flamingo representative could not estimate the growth pace.
“Romanian market will grow by at least 10% this year and it will continue in the future. Pay packages rose and continue to raise, therefore the purchase power of Romanians and growth rate of pay packages will be higher than in West,” Jiri Rizek added.
Flamingo International posted 342.4 million lei in first half, up 54% from similar interval of last year, and for entire year, the company forecasts 758 million lei sales. The company operates three distribution networks: Flanco World, Flanco, Flamingo Computers, with 107 stores.
Electronics and IT&C market leader, said the company may overhaul this year’s business.
“I think figures will be off-coursed due to macroeconomic climate, and evolution of currency exchange rate,” said Raul Filip, retail manager at Altex Romania.
The company posted for this year a 400 million euros turnover, calculated downwards to 430 million euros, in the context of first signs of economic crisis.
Altex Romania marked 170 million euros turnover in first half, up 47% compared to similar interval of last year.
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