Praktiker resumes expansion strategy in September

The Do-It-Yourself retailer Praktiker resumes the expansion of its network under the new ownership and opens next week the first store in four years.

Taken over by Turkish businessman Omer Susli in early-2014, Praktiker will open a new store in Targu-Jiu on September 12 so that the domestic retail chain will increase to 28 units in 24 locations across Romania. This will not be the sole inauguration this year, as Praktiker will open another store in Giurgiu within the coming months.

According to Omer Susli, Praktiker’s network will see a major expansion in the next two years which will result into a local chain of 45 retail units.

Susli acquired the domestic operations of the German group which have recorded successive losses in the last years and implemented a restructuring process leading to improved financial results for the first half of 2014.

Praktiker has recently reported operating profit of nearly 12 million lei at six months and increasing sales after an advance by 10 percent year-on-year.