Attica: The expansion for the Stadio department store begins

Of Giorgos Lampiris

The extension of Attica to City Link in the center of Athens, specifically on the 5th floor of the building, is officially a fact, as the change of baton is imminent from the Piraeus bank, which is currently utilizing the specific spaces in the company Attika Polykastima S.A. which manages the well-known shopping centers in Athens and Thessaloniki.

This is a long-planned move to enlarge the 5th floor of the department store by an additional 2,000 square meters with the addition of new stores and brands as well as new services to Attica customers.

Construction is scheduled to begin in the fall to renovate and shape the new spaces and add new brands, which are scheduled to be completed in March 2023.

This is a development, which we informed you was going to take place through his previous publication Capital.gr. The philosophy of the company and its shareholders, despite the special conditions of the pandemic and the current period, is that it continues to invest both in new brands and in the addition of additional square footage with new sales areas.

Summer like 2019

As regards the course of the quarter of the summer season, namely the months of June, July and August, Attica Department Stores S.A. is according to sources close to management at the same levels as in 2019 in terms of sales.

In the eight months, it moves with a single-digit percentage of turnover reduction compared to the corresponding time period of 2019, due to the strongly declining January and also the February that preceded it at the beginning of 2022.

Americans, Israelis and Egyptians compensated for the absence of the Chinese

Attica Department Stores bases a significant part of its turnover on Tax Free sales, which in the pre-pandemic era were based approximately half on the tourists who came to our country and visited the center of Athens from Asia in general and mainly from China.

Given the developments brought about by the coronavirus in China and the disruption of travel by Chinese visitors, a significant part of these sales were offset this year by Americans, Israelis and Egyptians.

Correspondingly, in Thessaloniki, a significant part of the tax free sales that came from the Russians was covered this year by citizens of countries such as Albania or North Macedonia.

The same sources report that, among other things, this summer saw an increase in consumption in euros compared to 2019. This practically means that the sales of goods to Greek customers, who make up the majority of buyers from Attica Department Stores, as well as to citizens, actually increased member states of the European Union.

Optimism to close 2022 at 2019 levels

With regard to the sales period that is still ongoing, Attika Department Stores appeared cautious in terms of the supplies of the products it brought to its stores, mitigating the quantities it imported into Greece, moving satisfactorily in the previous months, which offered it a positive course in terms of its sales.

It is noted that in July it received the products of the upcoming autumn-winter season, restoring the quantities of products to pre-pandemic levels, with the management optimistic that the following months of the year, combining the satisfactory demand and the increase in stocks, will once again lead to sales that approaching 2019.