LT: Maxima to open 7 stores in Latvia in 2013.

By bne IntelliNews January 9, 2013
Lithuanian retail chain Maxima announced its plans to open 7 new stores in Latvia in 2013. Gintaras Jasinkas, general manager of Maxima Latvija, indicated that consumer confidence in Latvia is increasing and is the best among the Baltic States. Yet, consumption is limited by emigration. In 2011 Maxima Latvija opened 5 new stores. Jasinskas added that consumer confidence is growing due to recovering neighbouring economies as well as premature repayment of bail-out funds to IMF. In 2013 the company plans to grow revenues and create new workplaces, yet it will be similar to 2012, Jasinskas said.

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