LT: Rimi revenues down by 16.9% y/y in Lithuania in H1.

By bne IntelliNews August 20, 2010
Swedish retail group ICA reported that its subsidiary retail network Rimi in Lithuania recorded revenues of LTL 356mn (EUR 103.1mn), which indicates decline of 16.9% y/y in H1. In Lithuania the group's revenues decline has been the biggest among the Baltic States. Rimi Eesti revenues dropped by 10.1% y/y and stood at EUR 164.8mn, while Rimi Latvia revenues dropped by 12.1% y/y and stood at EUR 256.4mn. Revenues of Rimi Baltic stood at EUR 524mn, which indicates decline of 12.5% y/y. The group has total of 243 retail shops, of which 82 in Estonia, 104 in Latvia, and 57 in Lithuania. The company plans to close 24 shops in 2010, of which 10 has already been closed.

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