Fourlis group has decided to proceed with the restructuring of the store network and the overall operating structure through two moves: closing 10 loss-making stores within 2026 and accelerating the planned organizational transformation, which is part of the strategy announced by the group since last year for its evolution into a single retail platform.
It should also be noted that although signs remains positive, sales after the first quarter of 2026 have slowed down, with the overall growth rate for the group being 8% from the beginning of the year until last Saturday, compared to 13% in the first quarter.
The closure of stores concerns all the countries in which the group operates (Greece, Bulgaria, Romania and Cyprus) and all the brands it develops (IKEA, Intersport, The Foot Locker and Holland & Barrett) with the emphasis being on Romania, as the country is facing an economic crisis, which has so far been manifested by a strong decline in demand and an increase in inflation.
The shutdown plan also includes stores in Greece, even some that aren’t old but did not perform as expected and are near stores of the same brand that have performed better. The turnover of the stores that will be closed is estimated at €8-10 million. Starting in 2027, the measure is expected to generate annual benefits of €3.5 million.
