Baltika’s consolidated sales revenue for September totalled 4,066 thousand euros, decreasing by 14% compared to the same period last year. Decrease in revenue in retail as well in wholesale, was caused by eastern market’s, especially Russian market’s, weak economic situation. To decrease risks unprofitable stores have been closed as planned and the sales area has been decreased. In addition revenue was affected by unusually warm weather in September and thus customers’ lower interest in autumn clothing compared to usual.
Baltika’s retail sales in the Baltic states for September increased by 3%, thereof increase in Estonia 7% and in Lithuania 3%, in Latvia decrease 5%. Retail sales in euros in Russia decreased by 50% compared to same period previous year. In local currency retail sales decreased in Russia by 23%. In the same period sales area in Russia decreased by 23%. Baltika’s consolidated retail sales revenue for September was 3,508 thousand euros, decreasing in total in four markets by 7% compared to the same period last year.
In September one new Monton store was opened in Estonia, Tallinn Solaris shopping centre. At the end of September Baltika Group had 131 stores, among which franchise stores: 5 in Russia, 5 in Spain, 2 in Belarus and 15 in Ukraine. At the end of month there was 104 shops operated by Baltika, shops average month sales area remained at the last year same period level.
Wholesale decreased by 45% compared to September in previous year, e-com sales increased by 22%.
Sales in September
| EUR thousand | 2015 | 2014 | Change |
| Retail | 3,508 | 3,775 | -7% |
| Wholesale (incl. franchise) | 485 | 876 | -45% |
| E-com sales | 71 | 58 | 22% |
| Other | 2 | 41 | -95% |
| Total | 4,066 | 4,750 | -14% |
Sales revenue for nine months totalled 38,635 thousand euros, decreasing 3% compared to the same period last year. Retail sales revenue was 33,664 thousand euros (-6% yoy), thereof the Baltic states sales increased by 2%. At the same period the Group’s average retail sales area decreased by 2%. Wholesale was 4,191 thousand euros (+17% yoy) and
e-com revenues 696 thousand euros (+185% yoy).
In connection with Baltika’s reorganisation of Ukrainian retail business and selling the company there (agreement was signed on 29 April 2014), the sales revenue of the Ukrainian entity is presented as discontinued operation. In 2014 comparative figures sales announcement presents only the nine months cumulative results of continuing operations.
Kati Kusmin
Member of the Management Board
kati.kusmin@baltikagroup.com