Prochnik expecting better results in second half of 2010
2010-06-29
Prochnik, the well-known Polish menswear retailer, expects its performance to improve in 2010. Last year, the company earned sales revenues of PLN 28.5m (€6.9m) and made a net loss of PLN 3.1m (€748.7m). The retailer has not, however, said whether it will escape from the red in 2010. After Q1 2010, Prochnik had turned over PLN 7.5m (€1.8m) but made a net loss of PLN 1.9m (€458.9m).
A casual range is to be added to the autumn collection, which is expected to boost sales. The company funded the purchase of the latter collection by using money raised during the issue (PLN 12m or €3m). Prochnik’s management claims that the company succeeded in negotiating better prices by paying in cash.
In 2010, Prochnik opened two establishments in Poland. At present, its chain consists of 25 stores. Over the next two years, it is to be expanded by 15 new stores – seven are due to open in 2010, and eight in 2011.
Furthermore, Prochnik is considering acquiring a women’s clothing brand. At present, it is negotiating with one company on the subject of takeover.
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