Retail sales in February, compared to a year ago, clearly show the continued improvement we have experienced in the business in the last four months: sales for November were -32%, December -26%, January -22% and February -20%. In Estonia (our biggest Market by revenue) sales in February were level with February 2009. In the month of February, retail sales decreased by 16% in Eastern Europe, 19% in Baltic and 33% in Poland.
Baltika’s consolidated revenue for February totalled 49.3 million kroons and decreased by 27%.
Sales in February
|
EEK million |
2/2010 |
2/2009 |
Change |
|
Retail |
44.1 |
55.0 |
-19.9% |
|
Wholesale |
4.6 |
12.6 |
-63.5% |
|
Other |
0.6 |
0.10 |
650.0% |
|
Total |
49.3 |
67.7 |
-27.2% |
In the month of February, Wholesale revenue decreased by 63.5%. The decline in wholesale revenue is largely attributable to developments in the Russian market where a wholesale partner's seven stores were taken over and integrated into Baltika's retail system in May 2009.
Consolidated sales revenue for the first two months totalled 116 million kroons (-25% yoy), including retail revenues of 103 million kroons (-21%) and wholesale revenues of 11 million kroons (-49%).
Three stores were closed in Ukraine and one store was opened in Estonia in February. The number of stores amounted to 130 at the end of the month (133 stores at the end of February 2009).
EUR 1 = EEK 15.6466
Ülle Järv
CFO, Member of the Management Board
+372 630 2731
|
