Public sales top EUR 10 mln, 2nd store in Cyprus

Publicworld has expanded its network in Cyprus with its second Public books-to-music store that opened in Limassol’s MyMall in Zakaki.
The new store, the Greek chain’s fifth outlet, cost 2 mln euros and takes up 2,000 sq.m. Publicworld aims to open a further 15 stores in Greece and in the Balkans by the end of 2012. One of the five new stores this year will open in Varna, Bulgaria.
The company hopes to open its third store on the island in Larnaca, possibly by 2012.
Group turnover from sales of computers, games, electronic devices, TVs, music and books is expected to rise by 17% this year to 50 mln euros, with the Greek stores owned by Panos Germanos earning 34 mln last year and the flagship Cyprus store at the Mall of Cyprus in Nicosia accounting for a further 10 mln euros.
Public also plans to open its online store by the end of the year, following an investment of 1 mln euros and a partnership with the American online experts, ATG.