Home » Business » The turnover of the manager of ‘Narvesen’ and ‘Caffeine’ last year exceeded 62 million euros

The turnover of the manager of ‘Narvesen’ and ‘Caffeine’ last year exceeded 62 million euros

In 2021, SIA Reitan Convenience Latvia, the company that manages the retail chain of the Narvesen and Caffeine café chains, had a turnover of 62.4 million euros, which is 2% more than a year earlier, and a loss of 2 million euros. “Delfi Bizness” informed the company.

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“Like many companies, we were also severely affected by the Covid-19 pandemic and the associated operating restrictions. Restrictions on the maximum number of visitors at points of sale, the ban on providing catering services on the premises of points of sale, as well as significantly lower inflows of inbound and outbound tourists have led to overestimating the profitability of individual points of sale and looking for new ways to strengthen customer loyalty. Nevertheless, we have been active in ensuring safe working conditions for franchisees in sales outlets and employees in cafes and offices, “says Dace Dovidena, Chairman of the Board of SIA Reitan Convenience Latvia.

In order to mitigate the impact of Covid-19, unprofitable outlets have been temporarily or permanently closed in some cases, following the evaluation of customer flows, and working hours have been adjusted and available support programs, such as downtime benefits, have been used.

A total of 4 new “NarvesenThe Narvesen brand is currently run by independent entrepreneurs on the basis of franchise agreements.

“We are optimistic about the resumption of customer flows in the future, but Russia’s military invasion of Ukraine is likely to have widespread negative economic effects, rising energy prices and supply chain disruptions. Therefore, there is much unknown in 2022 that could affect the company’s “At the same time, the timing of Covid – 19 has demonstrated our ability to respond quickly and adapt to conditions to ensure availability to customers, even in challenging situations,” explains Doviden.

The sole owner of Reitan Convenience Latvia is Reitan Convenience of Norway, according toLursoft“published information.

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