Business news from Ukraine

Business news from Ukraine

Comfy paid UAH 874 mln in taxes and fees for six months

8 August , 2024  

Home appliance and electronics retailer Comfy paid UAH 874 million in taxes and fees in January-June 2024, the company’s press service reports.
According to the release, UAH 539 million was VAT; UAH 335 million was other taxes and fees.
Since the beginning of 2024, the retailer has opened two new stores in Oleksandria, Kirovohrad region, and Berdychiv, Zhytomyr region, renovated its flagship (1000+ sq m) store in the capital’s Ocean Plaza shopping center, and restored two stores that were damaged by Russian missiles (in Dnipro’s Apollo shopping center and Sun Gallery shopping center in Kryvyi Rih).
In addition, the company is actively renovating existing stores to adapt them to changes in demand and assortment and to reconfigure store processes. In 2024, the reform’s objectives were expanded to include updating the online ordering area, which is required by the company’s significant growth in online sales (in 2023, the share of online sales exceeded 30%). According to the new standards, the retailer has already updated more than 60% of its network (65 stores).
The press service reported that due to the renewal and expansion of the assortment, the company’s sales in the first half of 2024 increased by 35% compared to the same period in 2023.
The largest growth is observed in the categories of “Large Household”, “Small Household” and “Accessories”. In particular, 68% more tumble dryers, 59% more air conditioners, and 36% more refrigerators were purchased. In the Small Household category, the leaders in sales growth are a multi oven (up 566%), a fan (up 135%) and a coffee maker (up 91.1%).
The last few weeks of the half-year saw a real sales boom in charging stations. The increase was over 2000% compared to the same period last year. Mobile batteries were sold 65% more than in the first half of last year.
At the same time, the retailer saw a slight decline in demand for TVs and built-in appliances, which were in high demand in the first quarter.
As of July 2024, the Comfy chain operates 104 stores.
The chain is owned by Comfy Trade LLC (Dnipro). According to the Unified State Register of Legal Entities and Individual Entrepreneurs, the owner of Comfy Trade is Comfy Holdings Limited (Cyprus), with Svitlana Gutsul and Stanislav Ronis as the ultimate beneficiaries.