Attica department stores recorded a 10% increase in turnover, to €179.6 million, and a 15.7% increase in EBITDA, to €19.2 million, in the last ten months of the year, with the company's CEO, Demosthenes Boumis, expecting a similar picture in the last two months of the year, which last year accounted for approximately 25% of total sales.

In other words, it is expected to exceed the original forecasts made in mid-2023 for the period up to 2027, according to which sales of €220.2m and EBITDA of €24.5m were expected.

We recall that last year the year ended with growth of 16.5% and sales of €227m, with EBITDA up 24% to €23.9m.

Of the total turnover, 20% comes from cosmetics and 80% from fashion, of which 22% comes from menswear, 18% from womenswear, 11% from accessories (e.g., bags), and 10% from footwear, with the sports sector having a share of around 5%.

INVESTMENTS

Regarding investments, Mr. Boumis noted that the implementation of the €40 million investment plan for the period 2021-2027 continues. It is noted that investments of over €25 million have already been made over the last 4 years, while this year €6.5 million was allocated to renovations and commercial changes in the department stores operating in City Link, Golden Hall, and Mediterranean Cosmos. 

WHAT'S NEXT

Investments of €15 million are planned for the next three years, which will be directed as follows.

OFFERING

introduction of new brands and services
exploring entry into new categories

NEW SPACE Revolutions

• 6th floor at City link
• entrance windows in Golden Hall
• roof at Cosmos Mediterranean

DIGITAL STORE

• significant boost in fashion with new brands
• Last Mile: upgrading storage logistics

TECHNOLOGICAL UPGRADES

• POS system
• Introduction of CRM

20 YEARS OF PRESENCE

Next April, Attica will complete 20 years of operation in our country, and from 22,600 sq. m. in 2005, the store space now stands at 69,000 sq. m.

DATA

• visitors: >5 million annually
• digital store: 11.4 million visitors on an annual basis and more than 30,000 codes
• employment: 2,200 employees, of which 1,150 are attica staff and the remaining 1,050 are partner staff.
• Partnerships: >300 suppliers
• Products: 1,000,000
• Brands: >1,000 

Boumis said that the company focuses on an upgraded customer experience across all channels and points with:

• Introduction of new and branded brands
• Strengthening the digital store
• developing new services
• branded brands and new brands, including the development of new brands and branded brands
• high-quality service

SERVICES

At the same time, Attica department stores are developing further personalized, premium services, such as:

• Hair salon
• Beauty treatments
• Premium cafe and winebar
• A specialised customer service area
• VIP room personal shopping
• pop-ups 

Boumis said that "we have our eyes open to opportunities that may present themselves to us for further expansion," adding that "we need to match our commercial decisions with our overall strategy.".

Specifically with regard to the restaurant sector, he said that "in City Link we already have two locations, on the 4th and 6th floors, and we are looking at making these four, adding, for example, an espresso bar.".

TOURISM

On the impact of tourism on Attica's figures, particularly at the flagship store in City Link, the CEO admitted that "we have improved performance because of tourism. What we have noticed in the last two years is that while in 2019 half of the turnover from foreigners was from Chinese, we are now seeing many nationalities buying from us, such as from Israel, the USA, Turkey, Australia, Saudi Arabia, China, etc. At the same time, we are positively influenced by the opening of large and smaller hotels in the centre of Athens."

As far as tax-free sales are concerned, they account for about 10.5% of total turnover. In the ten months to 2024, they were growing at a rate of 21%.

ATTICA SELECTIONS

Regarding the concept store, Attica Selections, which is run by the subsidiary RVU Distribution, currently operates three locations in:

• Athens International Airport
• Costa Navarino
• Sani Resort

The aim is to increase awareness of Attica, but at the moment there is no plan for new stores of this format, according to Mr. Boumis.