Baltika sales down 27 pct
03.11.2009, 15:36
AS Baltika, the third-biggest Baltic clothing retailer, said revenue declined an annual 27 percent in October because of a recession in its main markets and lower exchange rates for Russia’s ruble and Ukraine’s hryvnia, Bloomberg writes.
Sales fell to 78.8 million krooni, from 108 million krooni a year earlier, the Tallinn, Estonia-based company said today in a stock exchange statement. The decline compares to a 36 percent slump in both August and September.
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