VILNIUS, July 01 (LETA--BNS) - Apranga, the largest clothing retailer in the Baltic states, part of the MG Baltic group, posted 86.7 million euros in revenue in January-June, down 20.2 percent from the same period last year.
The chain's turnover went down by 21.4 percent in Lithuania, drooped 13.5 percent in Latvia and plunged 25 percent in Estonia, the group announced via the Nasdaq Vilnius Stock Exchange on Wednesday.
The group's turnover was affected by the closure of shops due to the coronavirus-induced lockdown. Shops in Lithuania were closed from March 16 until April 18 due to the coronavirus pandemic. Also, all group stores operating in shopping malls in Estonia were closed from March 27 until May 11. From March 28 until May 16, stores in Latvia operating in shopping malls could not work on weekends.
The second quarter alone, Apranga posted 40.9 million euros in revenue, down 30.6 percent from the same period a year ago. It went down by 29.8 percent in Lithuania, dropped 27 percent in Latvia and plunged 38.3 percent in estonia.
In the first half of this year, Apranga Group opened 4 stores, renovated 5 stores and closed 6 stores.
Currently Apranga Group operates a chain of 184 stores (106 in Lithuania, 51 in Latvia and 27 in Estonia) covering the gross area of 93.4 thousand sq. m., or by 3.3% more than a year ago.
Apranga is quoted on the Nasdaq Vilnius Stock Exchange's Main List.
© Pakistan Press International, source Asianet-Pakistan