TALLINN — Estonia’s largest clothing retailer Baltika Group has not fully recovered from crisis yet, as the first quarter of 2010 continued with its steady stream of quarterly losses.
Baltika Group posted -32 million krooni (-€2 million) loss for the first quarter, due to declining in sales. However compared to the first quarter last year, the results were better by 50 percent. Baltika Group has four retail brands — private_supervisor]Monton, Mosaic, Baltman and Ivo Nikkolo. All of those are represented in Estonia, Lithuania, Russia, Ukraine, Latvia, Poland, and Czech Republic.
In Lithuania and Latvia the sales were down by nearly -30 percent, in Poland and Ukraine nearly -15 percent. The smallest fall was in Russia with -5 percent and in Estonia with -7 percent, compared to last year.
The group’s expansion into the Czech Republic went bust near the end of last year. According to Merit Välba, press spokeswoman of Baltika Group, Baltika entered Czech market in 2007 and opened two Monton stores. Weak sales forced their closure.
Välba told Baltic Reports that in the current situation the company does not plan to enter any new markets.
Despite the group’s sales were down compared to the same period in 2009 the sales results have been slightly improving in quarterly and monthly basis since the third quarter in 2009. The company managed to reduce the distribution and administrative costs by 16 percent, which is a 22.9 million krooni (€1.5 million) win.
The best acting brands were Monton whose first quarter sales reached up to 81.8 million krooni (€5.2 million) giving 53 percent of the whole group’s retail revenue. Mosaic follows with 2.6 million krooni (€3.4 million) and gives 34 percent of the revenue. Baltman’s and Ivo Nikkolos contribution was below 10 percent. [/private_supervisor] [private_subscription 1 month]Monton, Mosaic, Baltman and Ivo Nikkolo. All of those are represented in Estonia, Lithuania, Russia, Ukraine, Latvia, Poland, and Czech Republic.
In Lithuania and Latvia the sales were down by nearly -30 percent, in Poland and Ukraine nearly -15 percent. The smallest fall was in Russia with -5 percent and in Estonia with -7 percent, compared to last year.
The group’s expansion into the Czech Republic went bust near the end of last year. According to Merit Välba, press spokeswoman of Baltika Group, Baltika entered Czech market in 2007 and opened two Monton stores. Weak sales forced their closure.
Välba told Baltic Reports that in the current situation the company does not plan to enter any new markets.
Despite the group’s sales were down compared to the same period in 2009 the sales results have been slightly improving in quarterly and monthly basis since the third quarter in 2009. The company managed to reduce the distribution and administrative costs by 16 percent, which is a 22.9 million krooni (€1.5 million) win.
The best acting brands were Monton whose first quarter sales reached up to 81.8 million krooni (€5.2 million) giving 53 percent of the whole group’s retail revenue. Mosaic follows with 2.6 million krooni (€3.4 million) and gives 34 percent of the revenue. Baltman’s and Ivo Nikkolos contribution was below 10 percent. [/private_subscription 1 month] [private_subscription 4 months]Monton, Mosaic, Baltman and Ivo Nikkolo. All of those are represented in Estonia, Lithuania, Russia, Ukraine, Latvia, Poland, and Czech Republic.
In Lithuania and Latvia the sales were down by nearly -30 percent, in Poland and Ukraine nearly -15 percent. The smallest fall was in Russia with -5 percent and in Estonia with -7 percent, compared to last year.
The group’s expansion into the Czech Republic went bust near the end of last year. According to Merit Välba, press spokeswoman of Baltika Group, Baltika entered Czech market in 2007 and opened two Monton stores. Weak sales forced their closure.
Välba told Baltic Reports that in the current situation the company does not plan to enter any new markets.
Despite the group’s sales were down compared to the same period in 2009 the sales results have been slightly improving in quarterly and monthly basis since the third quarter in 2009. The company managed to reduce the distribution and administrative costs by 16 percent, which is a 22.9 million krooni (€1.5 million) win.
The best acting brands were Monton whose first quarter sales reached up to 81.8 million krooni (€5.2 million) giving 53 percent of the whole group’s retail revenue. Mosaic follows with 2.6 million krooni (€3.4 million) and gives 34 percent of the revenue. Baltman’s and Ivo Nikkolos contribution was below 10 percent. [/private_subscription 4 months] [private_subscription 1 year]Monton, Mosaic, Baltman and Ivo Nikkolo. All of those are represented in Estonia, Lithuania, Russia, Ukraine, Latvia, Poland, and Czech Republic.
In Lithuania and Latvia the sales were down by nearly -30 percent, in Poland and Ukraine nearly -15 percent. The smallest fall was in Russia with -5 percent and in Estonia with -7 percent, compared to last year.
The group’s expansion into the Czech Republic went bust near the end of last year. According to Merit Välba, press spokeswoman of Baltika Group, Baltika entered Czech market in 2007 and opened two Monton stores. Weak sales forced their closure.
Välba told Baltic Reports that in the current situation the company does not plan to enter any new markets.
Despite the group’s sales were down compared to the same period in 2009 the sales results have been slightly improving in quarterly and monthly basis since the third quarter in 2009. The company managed to reduce the distribution and administrative costs by 16 percent, which is a 22.9 million krooni (€1.5 million) win.
The best acting brands were Monton whose first quarter sales reached up to 81.8 million krooni (€5.2 million) giving 53 percent of the whole group’s retail revenue. Mosaic follows with 2.6 million krooni (€3.4 million) and gives 34 percent of the revenue. Baltman’s and Ivo Nikkolos contribution was below 10 percent. [/private_subscription 1 year]
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