Fourlis Group reports lower Q1 sales

Fourlis Group on Tuesday reported a 3.2 pct decline in first quarter sales to 89.1 million euros from 92 million in the same period in 2016. Consolidated EBITDA fell to 2.8 million euros in the January-March period, from 3.0 million in 2016, while pre-tax losses were 4.1 million euros from 4.0 million in 2016. After tax and minorities losses were 3.3 million euros in the first three months from 3.2 million in 2016.

The IKEA business reported a 4.3 pct decline in sales to 57.1 million euros in the first quarter, EBITDA falling to 1.9 million euros from 2.3 million in 2016 and pre-tax losses of 2.3 million euros from a loss of 2.5 million in 2016. IKEA operates seven stores, of which five are in Greece, one in Cyprus and one in Bulgaria.

The Intersport business reported an 1.1 pct decline in sales to 32 million euros. EBITDA eased to 1.1 million euros in the first quarter from 1.4 million last year, while losses rose to 1.5 million euros from a loss of 800,000 euros in 2016. Intersport operates 113 stores of which 50 are in Greece, 31 in Romania, 21 in Turkey, seven in Bulgaria and four in Cyprus. It also operates nine The Athlete’s Foot stores.