News
TALLINNA KAUBAMAJA HALF-YEAR SALES DROP 5.5 PCT
TALLINN, Jul 12, BNS - The listed Estonian retail group Tallinna Kaubamaja has posted non-audited sales revenue of 3.0 billion kroons (EUR 192.3 mln) for the first half-year of 2010, of this 1.6 billion kroons for the second quarter.
TALLINN, Jul 12, BNS - The listed Estonian retail group Tallinna Kaubamaja has posted non-audited sales revenue of 3.0 billion kroons (EUR 192.3 mln) for the first half-year of 2010, of this 1.6 billion kroons for the second quarter.
The former figure marks a 5.5 percent drop from the first half of 2009. Kaubamaja's sales revenue in the first half-year of 2009 totaled to 3.2 billion kroons and in the second quarter of 2009 it was 1.7 billion kroons.
The rate of drop in sales has been declining constantly in recent months - of subsidiaries the sales of Selver embarked on a rise again in the second quarter and also sales of footwear retail have moved up significantly, Tallinna Kaubamaja said on Monday.
„If the first signs of the slowdown of decline a few months ago still left doubts as regards what is going to happen next, the second quarter has provided confidence that the negative trend is likely to start to be broken across the entire retail market. The indicators of sales are improving little by little," said the CEO of Tallinna Kaubamaja AS,Raul Puusepp.
In addition to competition getting tighter in region after region also the sales tax imposed in the capital city and the higher VAT compared with last year had a negative effect on the Kaubamaja revenue figure. "The sales tax that took effect in Tallinn from June reduced the group's sales revenue by 2.4 million kroons," said Puusepp.
In stores of the Selver supermarket chain of Kaubamaja located in Estonia, the number of purchases made in the first half-year of 2010 was 16.3 million, exceeding the number of purchases made during the reference period a year ago by percent.
In the first half-year, sales revenue per square meter of selling space at Selvers was an average of 5,500 kroons per month and in the second half-year it was 5,700 kroons, corresponding to a drop of 3 percent and one percent, respectively.
Selver supermarkets and hypermarkets had sales revenue of 2.3 billion kroons in the six-month period, a year on year reduction of 3 percent. In the second quarter supermarkets in Estonia generated sales revenue of 1.2 billion kroons, 2 percent above the figure for the second quarter of 2009.
The Selver chain has 35 stores across Estonia.
The sales revenue of department stores was 537.7 million kroons in the January-June period, down 8 percent from the same six months a year ago. A drop of 8 percent occurred also in second-quarter sales to 283.3 million kroons. Sales revenue per square meter of selling space at department stores was 3,600 kroons a month in the first half-year, 12 percent less than a year ago.
Sales revenue of Tallinna Kaubamaja in 2009 totaled 6.4 billion kroons.
