CCC revenues and profits fall due to switch to sales of upmarket shoes

During the first nine months of 2003, shoe retail network CCC recorded revenues of zł. 179 million and made a net profit of zł. 3.5 million. This means that the company from Lower Silesia has shown poorer results than for the same period last year when its revenues stood at zł. 266 million with profits of zł. 5.1 million. "These figures reflect the weak situation on the footwear market. Besides, this year we offered our clients more expensive products which led to a fall of 13% in revenues," said Wojciech Fenrich CCC's proxy. Therefore company representatives have decided to return to the previous strategy for 2004 and sell cheaper products, which according to them, will also help the company increase its market share. This strategy will be executed through a change in the structure of imported shoes, which accounts for around 40% of sales. It plans to switch from shoes made in the EU, to cheaper brands imported from the Middle East. (Puls Biznesu, p. 12) A.K.