TALLINN — While other supermarket chains like Rimi and Maxima cope with decreased profits, Comarket is seeing a large increase in turnover.
Comarket, the Estonian supermarket chain part of ABC Grupp, currently 21 locations throughout the country, 11 of which are located in [private_supervisor]the Tallinn vicinity. The chain raised its June turnover by 21 percent compared to June 2009, and in the first half of 2010 sales were up 14 percent compared to corresponding period last year. The six-month turnover reached 310 million krooni (€19.8 million).
Jüri Vips, board member of ABC Grupp told Äripäev that much of June’s turnover came from ice cream and beverages.
“People spend a large part of their budget on cooling themselves,” Vips said.
However, Vips is pessimistic on what the rest of the year’s budget will look like, saying “growth in turnover will be close to zero in September as people consider school budgets more important than ice cream budgets.”
Yet, he does expect a 2 or 3 percent rise in profit during the third quarter.
Comarket’s competitor Lithuanian-based chain Maxima’s turnover decreased by 3.2 percent but its net turnover in Estonian was 1.93 billion krooni (€123.3 million), the company reported last week. Meanwhile Rimi Estonia posted a loss for 2009. [/private_supervisor] [private_subscription 1 month]the Tallinn vicinity. The chain raised its June turnover by 21 percent compared to June 2009, and in the first half of 2010 sales were up 14 percent compared to corresponding period last year. The six-month turnover reached 310 million krooni (€19.8 million).
Jüri Vips, board member of ABC Grupp told Äripäev that much of June’s turnover came from ice cream and beverages.
“People spend a large part of their budget on cooling themselves,” Vips said.
However, Vips is pessimistic on what the rest of the year’s budget will look like, saying “growth in turnover will be close to zero in September as people consider school budgets more important than ice cream budgets.”
Yet, he does expect a 2 or 3 percent rise in profit during the third quarter.
Comarket’s competitor Lithuanian-based chain Maxima’s turnover decreased by 3.2 percent but its net turnover in Estonian was 1.93 billion krooni (€123.3 million), the company reported last week. Meanwhile Rimi Estonia posted a loss for 2009. [/private_subscription 1 month] [private_subscription 4 months]the Tallinn vicinity. The chain raised its June turnover by 21 percent compared to June 2009, and in the first half of 2010 sales were up 14 percent compared to corresponding period last year. The six-month turnover reached 310 million krooni (€19.8 million).
Jüri Vips, board member of ABC Grupp told Äripäev that much of June’s turnover came from ice cream and beverages.
“People spend a large part of their budget on cooling themselves,” Vips said.
However, Vips is pessimistic on what the rest of the year’s budget will look like, saying “growth in turnover will be close to zero in September as people consider school budgets more important than ice cream budgets.”
Yet, he does expect a 2 or 3 percent rise in profit during the third quarter.
Comarket’s competitor Lithuanian-based chain Maxima’s turnover decreased by 3.2 percent but its net turnover in Estonian was 1.93 billion krooni (€123.3 million), the company reported last week. Meanwhile Rimi Estonia posted a loss for 2009. [/private_subscription 4 months] [private_subscription 1 year]the Tallinn vicinity. The chain raised its June turnover by 21 percent compared to June 2009, and in the first half of 2010 sales were up 14 percent compared to corresponding period last year. The six-month turnover reached 310 million krooni (€19.8 million).
Jüri Vips, board member of ABC Grupp told Äripäev that much of June’s turnover came from ice cream and beverages.
“People spend a large part of their budget on cooling themselves,” Vips said.
However, Vips is pessimistic on what the rest of the year’s budget will look like, saying “growth in turnover will be close to zero in September as people consider school budgets more important than ice cream budgets.”
Yet, he does expect a 2 or 3 percent rise in profit during the third quarter.
Comarket’s competitor Lithuanian-based chain Maxima’s turnover decreased by 3.2 percent but its net turnover in Estonian was 1.93 billion krooni (€123.3 million), the company reported last week. Meanwhile Rimi Estonia posted a loss for 2009. [/private_subscription 1 year]
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