One step before the agreement with Piraeus is the expansion of Attica

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By George Lampiris

Very close to the signing of a final agreement with Piraeus Bank for the utilization and expansion of the 5th floor of Attica in City Link is the management of Attika Polykastastimata SA, according to sources who spoke to Capital.gr. We remind you that Attica on Panepistimiou Street has already been extended to the two floors, 3rd and 4th, proceeding to their redesign. In fact, it is gradually expanding the services provided to its customers as it has created a hair salon in the 4th, while there are restaurants such as Carpo and the café – wine bar, Le Cassis, which has also been created by the Kontopoulos family located behind Carpo stores. The 5th floor will come to add other available squares and chips, while offering comfortable spaces for sale.

The sales gap is gradually closing compared to 2019

Regarding the five months of 2022, Attica Department Stores fall behind in sales by about -12% compared to 2019, which is considered a comparable year. However, the company has gradually managed to reduce the gap compared to 2019, which was significantly larger in the previous months of the year. Sources close to the company reported that the fall in January exceeded 30% compared to the corresponding month of 2019, followed by February with -10%, March with -4%, April was at the same levels and now it is very likely May to close positively. This fact takes place at a time when sales with the tax free model have decreased by 35% this year, due to the fact that Chinese tourists do not travel to Greece, given the conditions prevailing in their country due to a pandemic . Part of the tax-free losses due to the non-attendance of Chinese visitors – albeit only partially – covered nationalities of visitors from the United States, Israel, Albania and Northern Macedonia. Tax free sales in 2019 for the entire Attica Department Stores were at the level of 10.7% on its turnover, while only in Attica at City Link tax free corresponded in 2019 to about 19% of the sales of the shopping center.

The impression of May is positive

However, Greek consumers bought the month we are going through above and from May 2019, maintaining the sales forces for Attica Department Stores. It is noted that, among other things, the company has recently cooperated with Aegean with the right to redeem miles from travel when buying products in the network of Attica Department Stores, a fact that could be considered a boost to its sales image. At the same time the company has a greater variety of goods compared to 2019 and despite the problems that arose in the supply chain from the outbreak of the pandemic onwards.

Why Cosmobrands was absorbed by Attica Department Stores

Recently, Attica Department Stores absorbed the affiliated Cosmobrands, which managed the online store attica.gr and the cosmetics sector. Through this merger, Attica Department Stores achieved, among other things, the improvement of its commercial operation, as in case of online purchase the respective customers can now return the product to the store, but also collect bonus points for purchases from the physical and electronic channel at the same time. In addition, he will be able to buy with the click & collect system, something that was not possible until recently due to the existence of two different companies. It should be noted that the retail cosmetics sector for Attica Department Stores in selectively distributed products is about 22% lower in sales compared to 2019. It is characteristic, however, that the fashion products sector is moving significantly better compared to cosmetics at this time. . However, the decline in sales of cosmetics is considered to be a temporary phenomenon, given that so far the use of the mask significantly affects the sales of cosmetics.

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Source: Capital

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