Romanian IT&C retailer Flanco Retail had sales of RON 197 million (over EUR 39 million) in the first four months of 2014, up 11 percent year-on-year. Thus, the company’s result was above the average market growth, which was estimated to be 7.5 percent for the first four months of the year, on comparable market segment, Flanco announced.

In 2014, the company continued its investments in network expansion, opening a new store in Cluj. It also continued the revamping program, which included 42 stores so far. The budget allotted this year for the network’s expansion and modernization amounts to some EUR 1 million. In the last three years, the company invested a total of EUR 5 million in its stores.

Flanco Retail also increased the number of employees by 15 percent, to some 1,000 people. It runs a network of 81 stores in 50 cities across Romania.

Irina Popescu, irina.popescu@romania-insider.com