C&A Moda reported an 81-percent drop in profits on the Czech market for the 2013/14 fiscal year. Profits decreased to CZK 13m and revenues fell 2 percent to CZK 2.43bn. The fashion retailer wrote in its annual report that store closures led to a 60-percent drop in operational results.
The poor performance has forced C&A Moda to slow down its expansion plans. The company is now only planning to open new outlets in top locations. C&A Moda is one of the strongest players in the Czech fashion sector, which includes Tesco’s F&F brand, New Yorker, H&M, Takko and KiK. C&A operates 40 stores in the Czech Republic.
