Fourlis Holdings S.A. sales reached €118.2 million in the first quarter of 2025, reflecting a 1.7% year-over-year increase. Gross margin rose to 46.7% from 44.5%, driven by supply chain optimization and a better product mix.
Operating losses narrowed to €2.5 million from €3.0 million, while pre-tax losses improved by 24.7%, and net losses after tax decreased by 22.5%. The group sees sales up approximately 6% year-to-date, with strong momentum in Q2 (+14%). Sporting Goods lead growth (+20% in Q2 so far), reinforcing confidence in Fourlis’ expansion strategy.
IKEA sales dipped 0.6% due to a cyberattack earlier in the year but rebounded by March. Gross margin improved to 46.9%, and EBIT rose to €1.9 million.
INTERSPORT & Foot Locker sales grew 6.1% YoY, with margins rising to 46.0%, as operational losses were reduced by nearly 20%, and H&B sales nearly doubled YoY to €0.7 million, though minor operating losses continued amid ongoing investments.
Network expansion highlights for Q1 2025
A new IKEA store opened in Heraklion, Crete (April 2025), following the Patras opening in late 2024, and a Planning and Ordering Studio launched in Pernik, Bulgaria (March 2025).
Plans are in motion for next-generation urban-format IKEA stores and a major new store in Elliniko, Athens by 2028. Currently, Fourlis operates 22 physical IKEA locations (15 full/urban stores and 7 pick-up points) across Greece, Cyprus, and Bulgaria.
Intersport & Foot Locker
Intersport network now includes 120 stores and 9 Foot Locker locations, with further growth planned in Cyprus, Romania, and Bulgaria. Four new Intersport stores opened in early 2025, including the world’s first Intersport Football Club store in Athens (March 2025).
The group completed the acquisition of Foot Locker operations in Greece and Romania (April 2025), securing exclusive expansion rights across eight Southeast European countries.
Holland & Barrett chain now operates 11 physical stores in Athens and is expanding through Shop-in-Shop models within AB Vassilopoulos supermarkets. E-commerce is active nationwide.
