Czech largest retailers register first-ever decrease in sales in 2010.

By bne IntelliNews May 25, 2011
The 50 largest Czech retailers registered their first-ever annual decrease in sales as the economic crisis dent consumer spending and retailers cut investments in 2010, CTK newswire reported citing a survey of Incoma GfK and Moderni Obchod magazine. The retailers sales fell to CZK 444bn (EUR 18.1bn) in 2010 from CZK 445bn in 2009, when they increased by CZK 10bn y/y. Tesco Stores CR, the local unit of British retailer Tesco, was the market leader with sales of CZK 45bn in 2010. Second ranked Ahold Czech Republic, ahead of Kaufland and Makro Cash&Carry. Retailers of furniture, household equipment and electronics registered falling sales, while drugstores saw their sales rising. Analysts expect this year the retailers' sales to stagnate.
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