Czech shoes manufacturer and retailer, Bata, ended the last year in red. The company registered a loss of CZK 16.4m (€665,000) in 2009. Company sales declined by 11% year on year, to CZK 2.46bn (€96.5m). To compare, in 2008 company showed profits of CZK 1.65m (€64,700), where sales amounted to CZK 2.76bn (€108.3m).
Bata blames the crisis as well as growing market competition for decreases in demand, which affected its financial results. In the future the company is to focus on optimizing business processes and reducing prices in order to regain customers and keep its market position. This year Bata expects to see financial results at the same level of those in 2008.
Last year the company closed three stores and reduced its manufacturing division staff by almost 50%.
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