ECONOMY

Fourlis opens doors to fourth Ikea store

Officials take part in the inauguration of an Ikea store in Larissa, central Greece, yesterday by sawing into a piece of wood, as opposed to the customary ribbon-cutting ceremony. Fourlis Holdings, the Ikea franchise-holder for Greece, Cyprus and Bulgaria, was inaugurating its fourth store in Greece. The company plans to open another branch in Ioannina next year ahead of the opening of its Bulgarian store slated for 2011. Despite difficult market conditions, Fourlis has said that its store roll-out plans remain intact. Shares in Fourlis, which are traded on the Athens bourse, have gained 41 percent in the last six months, versus a 52 percent rise of the Athens bourse’s benchmark index.