In June, Baltika increased sales revenue in all Baltic States
“In June, Baltika increased its sales revenue in almost all brands and markets, and online sales are continuing to grow. The sales revenue for the second quarter had decreased by five percent compared to the same period last year, but it is not realistic to expect that the impact of Baltika’s radical measures will be reflected in the current financial results, ”said Mae Hansen, CEO of Baltika, commenting on the company’s second-quarter results.
Baltika announced today in the stock market that the company ended the second quarter with a net loss of EUR 616,000. Baltika’s sales revenue for the second quarter was EUR 10,463,000, a decrease of five percent compared to the same period last year. Mae Hansen confirmed that the company’s biggest changes would be implemented by the end of February next year, and Baltika will be able to celebrate its first remarkable victories at the end of 2020.
“We are pleased to note that June stood out with very strong retail sales. Baltika sold more of the new summer clothes collection at the full price than over the same period last year. The warm summer month increased demand for jerseys and dresses, ”said the CEO of Baltika.
Sales revenue continues to grow in Baltika’s e-shop Andmorefashion.com, where sales in the second quarter increased 24 percent compared to the same period last year. “The brand with the highest percentage of sales revenue is Monton, whose sales accounted for 34 percent of the e-shop revenue. The sales revenue was the largest in Estonia, accounting for 51 percent of the total e-shop revenue, it was followed by Latvia and Lithuania with 15 percent,” said Hansen. The most distant countries to which purchase orders for Baltika’s brand were dispatched in the second quarter were Israel, Japan, Australia, USA, and Canada.
The full report of Baltika Group can be read here: http://www.baltikagroup.com/investors/announcements/
Marketing Director, Baltika Group
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