Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Baltika Jumps as Retailer’s Sales Resume Growth: Tallinn Mover

Nov. 1 (Bloomberg) -- Baltika AS, the third-biggest listed Baltic clothing company, rose the most in eight months after sales grew in October for the first time since July.

The stock rose 8 percent to a four-week high of 0.635 euro in Estonia’s capital, Tallinn, where the retailer is based. Volume of 40,617 shares was more than double the three-month daily average, according to data compiled by Bloomberg.

Sales at Baltika’s 121 stores in the three Baltic countries, Ukraine and Russia increased 6 percent in October from a year earlier to 5.48 million euros ($7.4 million), the company said today in a statement. The shares fell more than 15 percent over the previous month after Baltika cut this year’s profit target by half, citing slower third-quarter sales.

The fashion retailer has faced “intensified competition” in recent months as chains including Sweden’s H&M and Lithuania’s Apranga expand in the Baltic region, Swedbank analyst Maart Kroodo said in a report last month. Warmer weather in the region probably also delayed purchases of items in Baltika’s fall collection, he said.

Swedbank on Oct. 3 lowered its price target for Baltika to 0.55 euro, from 0.642 euro on Sept. 5, and kept its sell recommendation for the stock.

To contact the reporter on this story: Bryan Bradley in Vilnius at

To contact the editor responsible for this story: Balazs Penz at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.