Konzum double-digit decline in first five months of 2017 | Progresiv
Agrokor has released its Konzum results from the first five months and reported 463 million euros in Croatia and 127 million euros) in BiH. Both results reflect a double-digit decline from 2016’s performance and losses of 8 million euros in Croatia and 6 million euros in BiH. 
Agrokor has announced plans to split its stores in BiH under the Konzum and Mercator banners starting from August. It was announced that Konzum retain 170 stores while the remaining 83 stores go to Mercator. Agrokor’s trustee, Ante Ramljak, announced the complete payment of 41 million euros) of debts by September when Mercator and Konzum are expected to split.
Bingo, BiH’s largest retailer, recently took over one of Konzum stores in the town of Zenica just north of Sarajevo. Agrokor’s trustee stated that there will also be Konzum store closures in BiH, as well as Croatia. He also commented that some local retail chains, such as Bingo, will negotiate the takeover of certain Konzum stores once they receive the go-ahead from the competition commission. Bingo became market leader in 2016 after the takeover of Interex and Tuš, which exited the country. (www.igd.com)
