The a three-year investment plan of 10 million euros continues to seamlessly implement the Public Group, upgrading and expanding its store network, including home appliances in larger stores. The number of stores according to the plan will reach 70 points in Greece and Cyprus and their total area will exceed 100,000 square meters.
Of the 10 new “Public + home” mega stores included in the investment plan, two will be opened by the end of 2024: in Ilion and Heraklion, Crete. With these additions, Public will offer 47 stores a comprehensive range of technology, televisions, home appliances and entertainment products, providing consumers with a pleasant shopping experience, as well as flexible payment options.
Public: 10 million investments in new “Public + home” stores.
At the same time, 27 of the 47 stores will belong to the category of mega store concepts. These are Public and “Public + home” stores located in the areas of Attica, Thessaloniki, Larissa, Ioannina, Patras, Rhodes and Crete, but also in the major cities of Cyprus, which include a full range of large electrical appliances. In addition, a few days ago, the Public stores in Volos, Larissa, Athens Metro Mall, Rhodes and Nea Smyrni were renovated and new home appliance departments were opened.
Public Group continues to dynamically support the needs of consumers, as it is the only company in its sector in Greece that offers interest-free loans of up to 36 installments on all products, throughout the year. In addition, through the new reward program Public+, thousands of already registered members benefit from a refund of € in the Public Wallet for future purchases on public.gr and in the Public store network.
It is noted that the company expects a turnover of about half a billion euros for this year, slightly lower than the 515 million euros of 2023, because there is no subsidy program “Recycle – Change device”, and at the same time the management. The well-known chain estimates that the operating profitability will remain high (€25 million from a record €20 million in 2023), but it will hardly enter the net profitability.
There is an emphasis on white goods and services as the People’s “recipe” to increase profit margins and succeeds enter a profitable trajectory, and invest in the expansion of the network of physical stores.