May 28, 2024
In the first quarter of 2024, Comfy Trade's turnover amounted to UAH 7 billion, which is 40% more than last year's figure.
According to the financial statements of Comfy network operator Comfy Trade LLC, its turnover in the first quarter of 2024 increased by 40% compared to last year and amounted to UAH 7 billion.
Interestingly, a fairly significant growth rate was achieved after the company's sales in 2023 increased by 66% compared to 2022 (and by almost 40% higher if to compare with pre-invasion 2021).
Among the factors of the sales growth, we can note the influence of the devaluation of the hryvnia (practically the entire assortment of Ukrainian electronics stores is imported products), an increase in the number of stores (as of the beginning of 2023, there were 82 stores in the Comfy network, as of April 2024 - already 102), as well as the growing online sales.
It should be noted that Comfy is trying to increase its market share, taking into account the actual bankruptcy of the Eldorado chain, as well as quite significant difficulties that befell the Foxtrot chain in 2022 (the company's main warehouse in Gostomel burned down, and a fairly significant number of stores were closed).
In 2023, according to the financial report of the network operator, FTD-Retail LLC, the revenue of the Foxtrot network amounted to UAH 12.7 billion (UAH 27.6 billion for Comfy, based on Comfy Trade LLC's financial statements).
In the first quarter of 2024, the turnover dynamics of Foxtrot was comparable to that of Comfy (the turnover of FTD-Retail LLC amounted to UAH 3.2 billion, +33% y-o-y).
As for other financial performance figures of Comfi-Trade LLC for the first quarter of 2024, the company's operating loss amounted to UAH 23 million, net loss - UAH 40 million (in 2023, the company received a net profit in the amount of UAH 40 million).