Estonian garment maker Baltika’s sales up 28 pct in 2014
Forbes, NY
TALLINN (Thomson Financial) – Garment maker Baltika said sales in 2014 reached 1.152 bln kroons (73.61 mln eur), an increase of 28 pct over the previous year.
Retail sales surged by 34 pct year-on-year to 987 mln kroons, while wholesale decreased by 4 pct to 145 mln kroons, the company said in a statement to the stock exchange.
Consolidated sales in December came in at 108 mln kroons, up 8 pct on the final month of 2014.
By markets, December’s retail sales grew 19 pct year-on-year in Russia, 15 pct in Latvia, 12 pct in Ukraine, and 6 pct in Lithuania.
In the domestic market sales dropped by 2 pct, and in Poland by 9 pct.
At the end of 2014 the Baltika group had 128 stores with a total sales area of 24,290 square meters. A multi-brand store in Russia was closed in December.
The net growth of the retail system in 2014 was 16 stores and 4,700 square meters of sales area. Sales area operated by the Baltika group increased last year by 24 pct.
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