CDRL plans foreign expansion

EUROPE Polish clothing retailer CDRL, the owner of the Coccodrillo chain, is planning to open 30–40 new stores in foreign markets (including Russia) by the end of 2018 as well as one in Poland.

The new Polish outlet, which has already opened in Gemini Park Tychy, brings the number of stores in the country up to 250 (249 at the end of 2017), along with 160 in other European Union countries (140 at the end of 2017) and 131 outside the EU (111 at the end of 2017).

“2017 was very good for us; we carried out our strategy and improving the sales in our bricks-and-mortar chain as well as online. We are continuously optimising our business and investing in logistics. This has resulted in very good financial figures, although the net result was affected by contracts to hedge currency risk,” summarises Marek Dworczak, the CEO of CDRL.

CDRL Group’s revenues in 2017 came to PLN 230 mln, compared to PLN 203.7 mln the previous year. Its EBITDA amounted to PLN 29.6 mln, an increase of 33.9 pct compared to 2016, while its profit in 2017 was PLN 13.4 mln net – slightly lower than a year ago, which resulted from currency forward contracts.

Source: english.eurobuildcee.com

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