Poor performance of Polish retailers

As much as 20 percent of the 200 largest retail networks in Poland recorded a loss in 2014, Rzeczpospolita daily informed citing data by Bisnode, business information company. Net profit of the entire market reached only PLN 2 billion, whereas the revenues stood at PLN 100 billion. "Deflation [reaching 1.3 percent in Poland in January] forces a price war, which seems far from over. Small and medium formats are doing well, but the bigger ones are facing serious issues," said Andrzej Faliński, the general director of the Polish Trade and Distribution Agency. The value of the market rose by 2 percent in 2014, but it is predicted to increase by 0.2 percent this year.