VILNIUS — In the first quarter of this year the sales of the Lithuanian sector of Maxima retail stores decreased 15.4 percent, amounting to 1 billion litai (€289.8 million) before value added tax.
The retail sector is still suffering in the crisis as domestic demand remains weak. Though the bottom of the crisis has supposedly been reached, the retail sector is still [private_supervisor]cutting prices to increase turnover.
This year in January compared with January last year, the company’s sales fell 16 percent. In February the drop was 18.2 percent and in March, a year on year drop of 11.9 percent was recorded, Verslo Žinios reported.
“It is only in the first quarter of this year and the rate of drop in sales is getting slower, compared to the year before, ” Maxima CEO Gintaras Jasinskas said, adding that comparing the figures to autumn last year shows a clear stabilization in sales.
The harsh winter and rising heating and electricity costs from the start of the year pushed many in the country to the wall, giving them little to play with after paying their bills.
He said that the average spend per customer was the same as last autumn, and although it was 13 percent lower than the first quarter of the year it shows a rebound.
The bottom might have been reached for Maxima’s sales figures, but they are bracing for a new wave of unemployment, which has been widely forecast for the second half of the year. If the unemployment wave does hit the country, Jasinskas expects many to turn to the gray economy looking for goods. [/private_supervisor] [private_subscription 1 month]cutting prices to increase turnover.
This year in January compared with January last year, the company’s sales fell 16 percent. In February the drop was 18.2 percent and in March, a year on year drop of 11.9 percent was recorded, Verslo Žinios reported.
“It is only in the first quarter of this year and the rate of drop in sales is getting slower, compared to the year before, ” Maxima CEO Gintaras Jasinskas said, adding that comparing the figures to autumn last year shows a clear stabilization in sales.
The harsh winter and rising heating and electricity costs from the start of the year pushed many in the country to the wall, giving them little to play with after paying their bills.
He said that the average spend per customer was the same as last autumn, and although it was 13 percent lower than the first quarter of the year it shows a rebound.
The bottom might have been reached for Maxima’s sales figures, but they are bracing for a new wave of unemployment, which has been widely forecast for the second half of the year. If the unemployment wave does hit the country, Jasinskas expects many to turn to the gray economy looking for goods. [/private_subscription 1 month] [private_subscription 4 months]cutting prices to increase turnover.
This year in January compared with January last year, the company’s sales fell 16 percent. In February the drop was 18.2 percent and in March, a year on year drop of 11.9 percent was recorded, Verslo Žinios reported.
“It is only in the first quarter of this year and the rate of drop in sales is getting slower, compared to the year before, ” Maxima CEO Gintaras Jasinskas said, adding that comparing the figures to autumn last year shows a clear stabilization in sales.
The harsh winter and rising heating and electricity costs from the start of the year pushed many in the country to the wall, giving them little to play with after paying their bills.
He said that the average spend per customer was the same as last autumn, and although it was 13 percent lower than the first quarter of the year it shows a rebound.
The bottom might have been reached for Maxima’s sales figures, but they are bracing for a new wave of unemployment, which has been widely forecast for the second half of the year. If the unemployment wave does hit the country, Jasinskas expects many to turn to the gray economy looking for goods. [/private_subscription 4 months] [private_subscription 1 year]cutting prices to increase turnover.
This year in January compared with January last year, the company’s sales fell 16 percent. In February the drop was 18.2 percent and in March, a year on year drop of 11.9 percent was recorded, Verslo Žinios reported.
“It is only in the first quarter of this year and the rate of drop in sales is getting slower, compared to the year before, ” Maxima CEO Gintaras Jasinskas said, adding that comparing the figures to autumn last year shows a clear stabilization in sales.
The harsh winter and rising heating and electricity costs from the start of the year pushed many in the country to the wall, giving them little to play with after paying their bills.
He said that the average spend per customer was the same as last autumn, and although it was 13 percent lower than the first quarter of the year it shows a rebound.
The bottom might have been reached for Maxima’s sales figures, but they are bracing for a new wave of unemployment, which has been widely forecast for the second half of the year. If the unemployment wave does hit the country, Jasinskas expects many to turn to the gray economy looking for goods. [/private_subscription 1 year]
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