Sales results of MAGMA group for January 2009

In January 2009 MAGMA group achieved a total turnover of 78.86mil HRK, which is 5.66% more than in January 2008. The mentioned result was achieved in spite of extremely complex economic situation, reduction of working hours in Croatia due to legal provision which banned work on Sunday and inability to heat part of stores in Croatia caused by gas supply reduction. At the start of January 2009, MAGMA group closed nine stores: four stores in Slovenia, two in Croatia and Serbia each and one in Bosnia Herzegovina. In the period until 30th June 2009 another four stores will be closed, according to the plan. MAGMA group will open eight new stores until 15th April 2009: five stores in Sarajevo and one in Belgrade, Dubrovnik and Karlovac.

On 31st December 2008 the Group had 1.957 workers, and on 31st January 2009 1.744 workers, which is 213 workers less (12.20% less). The largest increase of turnover of MAGMA Group in January this year, in relation to January 2008, was realised in Bosnia Herzegovina, of 20.63%, then in Croatia 6.37% and in Serbia 4.58%. If we look at the results in the sales chains, in January 2009, in relation to January 2008, the largest increase was achieved by Turbo lima division with 15.75% larger turnover. The chain Turbo sport achieved an increase of turnover of 11.81%, while the line of franchise fashion stores experienced a decline of sales turnover in the amount of 25% which is a direct consequence of further decline of purchasing power and inability of working on Sunday.