Estonia, Markets and Companies, Retail

The loss of the first quarter of 2014 was 0.6 million euros, including income tax of 1.3 million euros.

The pre-tax profit was three times larger than that of the previous year, to the amount of 2.7 million euros.

The unaudited consolidated sales revenue of the 1st quarter of 2015 of the Tallinna Kaubamaja Group was 123.5 million euros. Compared to the 1st quarter of 2014, when the sales revenue was 119.7 million euros, the growth was 3.2%. In volume, sales revenue grew in the most important segments of the group, while the car trade and footwear segments fell short of the sales results of the previous year.

The company said that the growth in sales revenue achieved in the 1st quarter followed the pace of the entire Estonian retail market. As predicted, the turnover of the cars’ segment was in a slight decline, following the shopping boom in November of the previous year. The turnover of the footwear trade’s segment also decreased due to sharp increase in competition and the rearrangement of the segment’s flagship store.

For several years in a row, the sales of fashion items have been held back by a warm winter, which allows the customers to avoid purchasing winter clothes and footwear and puts more pressure on margins due to discounts of winter goods. The record-low number of tourists negatively affected the sales revenue of the department stores in the first quarter.