Nay to open more shops in the Czech market

2010-02-12



Slovak chain of consumer electronic stores Nay, which entered the Czech market at the end of 2008, intends to further develop its network in the country. So far the company has launched stores in Olomouc and Trebic and this year five new units are to open, according to Hospodarske Noviny. As the company explained, these openings were delayed from the last year due to the financial crisis which cancelled construction of many commercial buildings in the country and made expansion very difficult.
Moreover, Nay is also potentially interested in acquisitions on the local market. The company, however, did not unveil which companies it is eyeing.
Sales revenues of consumer electronic goods decreased in the Czech Republic by nearly 9% to CZK 47bn (€1.8bn) in January-September 2009, according to Gfk Incoma.