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Tuesday, 23.04.2024, 12:37
Favorable weather helps Baltic clothes retailer Apranga grow Q1 sales
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"Despite some uncertainty in the markets, the first-quarter results were good. This was mainly due to rising wages and favorable weather conditions for the apparel business," told Rimantas Perveneckas.
The group's total retail sales for the first quarter rose by 8.4 y-o-y to 47.8 mln euros, including VAT, with sales for March alone up by an annual 11.5% to 16.1 mln euros.
Perveneckas said that the company expected to maintain similar sales growth rates throughout the year.
The chain's first-quarter sales in Lithuania increased by 6.5%. Sales in Latvia went up by 4.6%r and sales in Estonia jumped by 21.8%.
The group expanded and refurbished its Bershka store in Kaunas' Akropolis mall and its City store in Riga's Spice during the first quarter.
Apranga, which is listed on the blue-chip Main List of the Nasdaq Vilnius stock exchange, owns a chain of 183 stores in the three Baltic countries with a total area of 83,900 square meters, up by 6.3% from a year ago.
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