Tallinna Kaubamaja Grupp
SALES RESULTS FOR 9 MONTHS 2009
Tallinna Kaubamaja / 12.10.2009 Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- The consolidated unaudited sales revenue of Tallinna Kaubamaja Group for 9 months of 2009 was 4.8 billion kroons (303.9 million euros), 1.6 billion kroons (100.3 million euros) were earned in the third quarter. The sales revenue for 9 months of 2008 was 4.7 billion kroons (301.4 million euros). The sales increased by 1%. The consolidated sales revenue of the supermarket business segment for the first nine months of 2009 was 3.6 billion kroons (227.2 million euros), 17% more than in the same period last year. In the third quarter of 2009, the consolidated sales revenue of Selver was 1.2 billion kroons (77.3 million euros), exhibiting an increase of 9% compared to the same period of the previous year. The 9 months consolidated sales revenue per retail space square metre was 5.3 thousand kroons a month, showing a decrease of 21% from the same period of the previous year. The comparable store sales per retail space square metre was 5.9 thousand kroons per month, showing a decrease of 16% compared to the same period of the previous year. The sales efficiency of the Selver supermarket chain was adversely affected by the overall economic recession in Estonia as well as Latvia, changes in the competition situation in the retail market and the reduced average consumer's market basket by price as well as product assortment, and the reduced sales efficiency at the stores where the commercial space was extended in 2008. Over the 9 months, a total of 26.2 million purchases were made in the Selver chain, 27% more than in the same period of the previous year. In comparable stores, the number of purchases grew by a total of 2% during the 9 months. In the first half-year of 2009, Selver opened 6 new stores, whereas it is planned to close down 6 stores in Latvia. No new stores were opened in the third quarter. Selver continues to develop in Estonia. Next year it is planned to open a store in Haapsalu. In the department store segment, the sales revenue for the 9 months of 2009 was 847.9 million kroons (54.2 million euros), falling by 23% compared to the same period last year. In the third quarter, the sales revenue amounted to 264.6 million kroons (16.9 million euros) which was 28% lower compared to the same period last year. In the third quarter, the sales revenue of department stores per one square metre was 3.7 thousand kroons per month, i.e. 30% less than for the same period of the previous year which was 5.3 thousand kroons per month. The total retail space of the department store segment, however, has increased by 700 m2, that is 3% more compared to the same time year ago. In addition to the overall decline in consumption, the sales revenue for the third quarter was adversely affected by the renovation works performed in parts of the Women's Fashion and Kidswear and Toys departments. In the first 9 months of 2009, the sales revenue of real estate business segment outside the Group was 32.3 million kroons (2.1 million euros), increasing by 7 % relative to the same period of the previous year, and the sales in the third quarter amounted to 10.5 million kroons (0.7 million euros). The sales revenue of the car trading business segment for the first 9 months of 2009, intersegment transactions not included was 178.9 million kroons (11.4 million euros), which is 59% lower than the revenue in the same period last year. A total of 776 cars were sold in the first 9 months. At the same time in 2008, the sales revenue from the sales of 1,719 cars was 437.0 million kroons (27.9 million euros). The sales revenue for the third quarter of 2009 was 31.4 million kroons (2.0 million euros) and altogether 105 new cars were sold. The sales revenue for the same period in 2008 was 121.6 million kroons (7.8 million euros) A continuing steep fall in the car trading market was seen in the second quarter. In Estonia, 1,975 motor-cars were sold in the third quarter which is 64% less than a year ago. In Latvia, 1,226 new cars were registered in the third quarter which is 76% less than a year ago. In Lithuania, 1,536 cars were sold which is less than 69%. In Estonia and Latvia, the market share did not change compared to the second quarter. In Lithuania, the market share increased from 2% to 2.9%. In the Baltic states, the decrease in the car market was 70%. According to the current estimates, the car market has hit the bottom and the downward trend is expected to halt in the upcoming months. The sales revenue from footwear trade in the first 9 months of 2009 was 136.4 million kroons (8.7 million euros); in the third quarter, the sales amounted to 51.0 million kroons (3.3 million euros), decreasing by 35% compared to the same period in 2008. In September, a development project that had lasted for more than year and entailed the renewal of the concept - the product assortment, logo and interior design - of the whole ABC King chain was completed. The aim of the changes made in the brand portfolio is to meet the expectations and preferences of the local consumers. In the third quarter, four ineffective or unfavourably located stores, two of them in Latvia, were closed. In the fourth quarter, it is planned to open three new footwear stores used so far on a temporary basis at Rocca al Mare shopping centre and another store will be opened at Lõunakeskus in Tartu. Of the 30 stores of the Group's two footwear store chains, 26 are located in Estonia and 4 in Latvia. The first store of the beauty store chain I.L.U. was opened in the new Pärnu shopping centre in the second half of March. No new stores were opened in the third quarter. The sales revenue for the third quarter was 1.9 million kroons (0.1 million euros) and the total sales revenue for the 9 months was 4.4 million kroons (0.3 million euros). The next I.L.U. beauty store chains will be opened in November at Rocca al Mare shopping centre in Tallinn and at Lõunakeskus in Tartu. In 2010, it is planned to open a store in the Kristiine shopping centre. The plan to open a store in Latvia is currently under review. Raul Puusepp Chairman of the Board Phone: +372 731 5000 News Source: NASDAQ OMX 12.10.2009 Financial News transmitted by DGAP --------------------------------------------------------------------------- Language: English Company: Tallinna Kaubamaja Estonia Phone: Fax: E-mail: Internet: ISIN: EE0000001105 WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
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