Baltika of Estonia Second-Quarter Loss Narrows on Lower Costs

AS Baltika, the third-largest listed Baltic clothing company, said its second-quarter loss narrowed after a store closing in Russia cut distribution costs.

The net loss declined to 444,000 euros ($638,000) from 883,000 euros a year earlier, the Tallinn-based company said in a regulatory statement today. Revenue was little changed at 12.6 million euros.