You can hide the loss in the press release but not on official docs
Teknosa, consumer electronics retailer, posted TRY 148 million (~USD 24.2 million) loss for 2019 Q4. The loss for 2018 was TRY 64 million (~USD 10.5 million). The company’s sales reached TRY 4.1 billion (~USD 672 million), up 19% as compared to 2018 Q4.
These are some figures regarding Teknosa’s financial and operational results. But the weird thing was Teknosa never mentioned the loss in the press release. The company focus on the revenue instead. Here are figures from the results that I’ve gained from the annual report, not the release:
-200 stores in Turkey (205 in 2018)
-40% sales increase at teknosa.com
-7% of the full revenue comes from e-commerce
-Teknosa’s market share is 22,3% in technology supermarkets segment
-Teknosa’s headcount is 2270 and 1923 of them are employed at the stores (1950 in 2018)
-Preo, Teknosa’a private label offering gadgets at affordable rates, sold 6 million units
-Teknosa will be celebrating 20th anniversary this year as Turkey’s first consumer electronics retailer
It is obvious that companies don’t like losses but it is not good to hide such losses in the press releases. By the way Teknosa had a loss of TRY 65 million (~USD 11 million) also in 2018 and profit of TRY 20 million (~USD 3.3 million).
Would you like to support TR Technews?
I’m running Turkishtechnews.com, a website on tech developments from Turkey. I will be covering subjects ranging from startups to gadgets, digital economy to social media. I’m keen on new technologies as well. On top of those, I’m interested in drama and cinema, with one short and one long film script and three plays. Holding a B.A degree in English Language and Literature, I’m a tech journalist with 15 years of experience.
The reason why I’m here is to produce good quality journalism and try to remain independent as much as possible. Currently, journalism is torn between vague relationships between brands and journalists, not only in Turkey but also globally. Under such circumstances to remain independent is crucial and I need your support to do so.