German DIY retailer Praktiker posted a 15.6% decline in sales in Romania for first quarter, down to 45.1 mln euro citing the sharp devaluation of the leu, the company informs.
As Reuters reported, the retailer recorded in the analyzed timeframe losses before interests taxes and amortization of 49.2 million euros (63.50 million dollars), from 20.8 mln euros a year earlier. Analysts surveyed by Reuters had expected the losses to stand at 37 mln euros in first quarter.

Overall, the net sales sank 8% down to 795.6 mln euros. Established in 1978, the German retailer Praktiker holds over 400 stores in Europe. In Romania, the group is active since 2002 and currently operates 25 stores locally.

The main competitors of the DIY retailer are bauMax, Bricostore, Hornbach and Mr. Bricolage, as well as the local subsidiaries of Dedeman, Arabesque and Ambient.

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