BUSINESS

Winter sales begin in Greece but retail sector expects turnover to drop by 10 pct

Greece’s suffering retail sector will be looking for a boost from winter sales, which begin on Monday and are due to last until February 28.

Estimates from the National Confederation of Hellenic Commerce (ESEE) put the expected turnover in this sales window at 5 billion euros, down from 5.5 billion in 2013 – i.e. a decline of just under 10 percent.

The annual drop last year had amounted to 14 percent, while in 2012 it had come to 14.89 percent.

In contrast to last year’s winter sales, stores will be allowed to open on the first Sunday on of the sales period, which is on January 19, if they wish.

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