Tallinna Kaubamaja posts sales of 420 mEUR for 2008

The unaudited consolidated sales of the listed Estonian retail group Tallinna Kaubamaja in 2008 totalled 6.6 billion kroons (EUR 419.8 mln), marking an 11% increase over the preceding year.
Consolidated sales by Tallinna Kaubamaja’s supermarkets segment totalled 4.3 billion kroons, up by 15% year on year. Consolidated unaudited sales by the Selver supermarket chain in the final quarter of the year totalled 1.2 billion kroons, an annual increase of 20%, Kaubamaja said.
The estimated share of sales by Selver in Estonian non-speciality grocery retail was 15.2%, having increased by 0.5% during the year.
The sales revenue of the Kaubamaja department store segment amounted to 1.535 billion kroons in 2008, a 0.7% slide from a year ago.
The sales revenue of the property business segment climbed 3% compared with 2007 to 41.6 million kroons.
The sales revenue of the car business segment amounted to 528.0 million kroons.
A total of 37.6 million purchases were made at outlets of the Kaubamaja group in 2008, marking an 8% increase year on year. 28.9 million purchases were made in the Selver chain, 8.3 million in Kaubamaja department stores and 0.4 million in footwear retail.

Source: Estonian Review

Food is expensive in Tallinn

A new survey shows that although food prices in Estonia have been falling since the second half, food is still relatively more expensive in Tallinn than, for instance, in Budapest or Prague.

Postimees quotes a survey made by the Estonian Institute of Economic Research which showed that wheat flour, potatoes, domestic cucumber, chocolate, rape seed oil, brie and also beer cost relatively more in Tallinn than elsewhere.

At the same time Tallinn is doing relatively well in comparison with other Baltic capitals, since it has now the cheapest food among the three cities although at the end of 2007 food in Tallinn was still more expensive than in Riga or Vilnius. Especially sharply have declined the price of poultry, eggs, some dairy products, vegetables and fruit.

The survey shows that while price of petrol 95E fell 14 percent during the year in Europe, the fall in Tallinn was only 10 percent. In the pan-Baltic comparison, while normally fuel has cost about the same in the three Baltic capitals, Tallinn is not the city with the most expensive fuel 95E and diesel in the Baltic states.

Source: BBN