Baltic, Good for Business, Markets and Companies, Textile

Baltika’s retail sales for March increased in the Baltic States by 2%, thereof increased in Lithuania by 10% and in Latvia by 2%, in Estonia sales decreased by 2%. In Russia, retail sales decreased by 48% compared to same period previous year. In local currency sales decreased in Russia by 32%. In the same period sales area in Russia decreased by 25%. Baltika’s consolidated retail sales revenue for March was 3.427 million euros, decreasing 7% compared to the same period last year.

In March, one new Ivo Nikkolo retail store was opened in Estonia. At the end of March Baltika Group had 128 stores, among which franchise stores – 5 in Russia, 5 in Spain, 2 franchise stores in Belarus and 14 operating franchise stores in Ukraine. Average month sales area of shops operated by Baltika decreased by 4% compared to the same period last year.

Wholesale increased by over two times, i.e. 117% compared to March in previous year, e-com sales increased by nearly four times, i.e. 291%.

Sales revenue for three months totalled 12.317 million euros, increasing by 1% compared to same period in previous year. Retail sales revenue was 10.449 million euros (-6% year-on-year), thereof the Baltic states sales increased by 1%. Same time the group’s average retail sales area decreased by 3%. Wholesale was 1.603 million euros (+69%) and e-com revenues 250 thousand euros (+225%).

In connection with Baltika’s reorganisation of Ukrainian retail business and selling the company there (agreement was signed on 29 April 2014), the sales revenue of the Ukrainian entity is presented as discontinued operation. Sales announcement presents only the results of continuing operations unless indicated otherwise.