International Internet Magazine. Baltic States news & analytics
Monday, 27.06.2016, 08:46
Maxima LT, the operator of the biggest retail chain in the Baltics, and frozen bread and pastry product maker Mantinga will have to pay millions in fines for a cartel, which the two companies practiced for a decade, reports LETA/BNS.
Keyword tags: Financial Services, Legislation, Lithuania, Markets and Companies, Retail
Estonian Supreme Court found on June 20th that the case of the alleged alcohol cartel agreement has not expired like it was found in the Tallinn circuit court in January 2016, which means the second-tier court has to discuss the case again, informs LETA/BNS.
One of the most important and anticipated events in grocery retail in Lithuania is the opening of Lidl stores in the local market. Some expect that Lidl will change the grocery retailing landscape in Lithuania completely, with its entry the subject of much discussion in Lithuania – however, is Lidl really such a threat to the leading grocery retailers in Lithuania?
German-owned retailer Lidl Lietuva on June 2nd opened its first 15 stores in Lithuania, the 26th market where the chain operates, informs LETA/BNS.
According to Statistics Estonia, in April 2016 compared to April 2015, the turnover of retail trade enterprises increased by 6% at constant prices. While in March, the turnover increased by 3% compared to the same month of the previous year, then in April the growth accelerated.
Calendar adjusted data (at constant prices) compiled by the Central Statistical Bureau (CSB) show that, compared to April 2015, total retail trade turnover in April 2016 rose by 1.8%. Retail trade in food products decreased by 0.4%, whereas retail turnover in non-food products increased by 3.0%.
Vilniaus Prekyba, the owner of Lithuania's grocery chain Maxima, the drugstore chain Eurovaistine and the DIY-chain Ermitazas, posted 3.17 billion euros in consolidated revenue, not including VAT, for 2015, up 3.7% from 3.06 billion euros in 2015, informs LETA/BNS.