Last update: 30.11.2024 00:24 (GMT+2)
Apranga APB
Company event
Performance Results for the 1st half of 2004
The preliminary and unaudited figure for the profit before taxes of Apranga JTC
(joint-stock trading company) for the first half-year of 2004 stands at LTL
1,019,485. The sales of the Apranga store chain, the largest retail seller of
wearing apparel in Lithuania, amounted to LTL 50.059 m, generating an increase
of LTL 9.5 m or 23.5% as compared with the corresponding period of 2003. During
the first six months of the year Apranga JTC opened five new stores and
reorganized one into a sell outlet “Isparduotuve A”. Sales in the Family segment
increased by 19.2%, in the Youth segment – by 18.4%, in the business segment
“City” – by 50.6%, and in the Prestige segment – by over 11.8%. During the
first half-year of 2004 sales of the Apranga store chain increased by 9.6% in
Vilnius, by 14.3% in Kaunas, by 29.7% in Klaipeda and almost fourfold in Riga.
The first half-year profit of Apranga reached LTL 1.019 m and was a little lower
than anticipated. Mostly due to distinct seasonal prevalence, intensive
expansion of the sales network and reorganization of some stores, the Company is
planning to acquire the bulk of its forecasted 8 million Litas profit in the
second half of the year. Slightly smaller than forecasted indicators in sales
and profit can also be blamed on an unusually cold spring and summer, which have
a rather significant effect on the performance of the clothing industry.
The plans of Apranga have also been substantially adjusted by achieved
agreements with global clothing leader INDITEX on the opening of ZARA clothing
stores in the Baltic States. Four projects have been cancelled by Apranga to
elude possible inside competition. The Company is currently finishing the
furnishing of ZARA stores in Riga and Tallinn, and the 1.5 month training of 10
new managers in the best stores of ZARA network in London, Madrid and Lisbon is
coming to an end. The opening of the new 1.600 sq.m. ZARA store in Tallinn is
scheduled for 17 August, the 1.500 sq.m. ZARA store in Riga will open to clients
on 20 August, while the 2.400 sq.m. ZARA store in Vilnius will open its doors at
the beginning of November. In the ZARA stores alone, Apranga will recruit almost
150 new employees. On 26 August, the Company will open the first in Eastern
Europe EMPORIO ARMANI franchise store located in Riga. A store of a similar kind
will open doors in Vilnius in February of 2005. Apart from the abovementioned
stores Apranga is going to realise four more new projects by the end of 2004.
Saulius Bacauskas
Finance and Economics Director
(+370 5) 239 08 43