Eldorado boosts sales by 90% over Christmas

Russian electronics and home appliance chain Eldorado increased sales by 90% to USD500 million in December 2008, compared to November, the company said in a statement. The most popular purchases were plasma and LCD televisions, game consoles, digital camera, mobile phones and personal hygiene appliances. Eldorado said earlier that it expects the electronics and home appliance market to decline by 20-30% in 2009 and is therefore scaling back its expansion plans, and will only open 12 compared with 55 new stores in 2008. The company expects sales revenue to fall by roughly USD1 billion in 2008 to about USD5 billion.

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