“The network had over 130 stores at the end of 2008. In 2009, due to unfavorable economic conditions, and in order to ensure optimization of costs and a raise in the efficiency of the activity of the entire Euro-GSM network, we will close some 15 stores. However, we are open to any opportunity which would help us develop the network in profitable conditions,” said the company’s Marketing Manager, Cristina Szabo.
The firm ended 2008 with €27.7 million in net sales, down 14 percent year-on-year. In September, Euro-GSM estimated turnover worth over €35 mln for 2008, which would have meant an eight percent increase.
One of the company’s main competitors, Germanos Telecom Romania, will continue to expand its retail network in 2009, to 280-285 units from 260 stores, three times below the pace registered in previous years, due to the economic crisis.
