CCC raised its sales by 20.1 percent to the equivalent of €106 million in the first quarter of 2015, but the fast-growing Polish shoe retailer is targeting 40 percent growth for the full year. The gross margin declined to 51.6 percent from 52.3 percent in the year-ago period, but the operating margin (Ebit) rose to 2.4 percent from 2.1 percent, leading to a jump in the net profit margin to 1.5 percent from 0.1 percent. Two-thirds of the turnover was still in Poland during the quarter. The company had 729 stores in 15 countries at the end of the period, including 55 franchises and the first two stores in Bulgaria. It has budgeted investments of around €37 million for new stores for the year, developing especially in Slovenia, Croatia, Romania and Bulgaria. CCC is aiming for a network of 1,166 shops by the end of 2017.