Fourlis Group is reshaping its retail network in 2026, with around 10 stores expected to exit the portfolio by year-end, while the company simultaneously prepares new IKEA locations and continues selective expansion in markets where returns remain attractive.
The most significant changes are taking place in Romania. Two INTERSPORT stores have already closed, a third is close to closure, and management said another four or five locations could follow during the remainder of the year. In addition, one or two Foot Locker stores are under review.
The strategy, however, is not a simple retreat. One INTERSPORT store in Romania has already been relocated, while Fourlis continues to evaluate relocations, refurbishments and new locations where the expected returns justify further investment.
IKEA Piraeus closes, but expansion continues
The rationalisation programme has also reached the IKEA network. IKEA Piraeus store closed at the end of August, with management describing the location as loss-making. Fourlis expects much of its sales to migrate to the larger IKEA store in Kifisos.
At the same time, management said there are currently no other IKEA stores scheduled for closure. Instead, the company is preparing the next phase of IKEA expansion in Greece through a smaller format already tested in Rhodes.
Corfu and Lamia in the smaller IKEA concept pipeline
Fourlis plans to extend the smaller IKEA concept to Corfu and Lamia, while it is also evaluating properties in other major Greek cities. The format is designed around approximately 2,500 sqm of total space, of which around 2,000 sqm is dedicated to retail.
Expansion is expected to begin from 2027 onward, with the speed of rollout largely dependent on finding suitable properties that meet the group’s return requirements. The much larger IKEA project at Elliniko remains the key long-term development for the brand in Attica, with opening targeted for 2029.
Network restructuring to generate €3.5 million annually
Fourlis expects €3.9 million in one-off costs from network restructuring during 2026, but management estimates the measures will generate around €3.5 million in recurring annual benefits from 2027.
The wider transformation programme carries total one-off costs of €10.7 million and is expected to produce €9.1 million in recurring annual benefits from next year.
