Latvia, Markets and Companies, Retail

The company’s turnover rose by 6%t and profit by 16%t against 2014 when its turnover was EUR 740.96 mln and profit EUR 23.64 mln.

The company said in its report that turnover in Rimi Latvia stores rose by 4.5 %t from 2014.

The Rimi Latvia management said that the company's retail sales rose last year because domestic consumption in Latvia kept improving and also thanks to the new and upgraded stores.

Rimi Latvia also has improved profitability thanks to loss and costs control measures.

The business practice implemented by Rimi Latvia is aimed at the company's development in a long term. The company will continue work on opening new stores and upgrading the existing ones. Last year Rimi Latvia also started introduction of self-service cash registers.

The company will continue development of the Rimi stores and develop the range of private label products, and focus on customer loyalty programs.

In 2014 Rimi Latvija generated EUR 740.966 mln in sales and earned EUR 23.643 mln in profit.

Rimi Latvia started operations in 1996 and is a subsidiary of Sweden’s ICA AB retailer. Rimi Latvia at the end of 2015 ran a total of 116 stores – 30 Rimi hypermarkers, 41 Rimi supermarkets and 45 Supernetto discount stores in 27 Latvian towns.