SIA clothing retailer “Lindex Last year Latvia “worked with a turnover of 8.48 million euros and a profit of 297,394 euros, according to”Lursoft Public information “Customer portfolio”.
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Last year’s revenue was the retailer’s lowest indicator for the past eight years.
In the management report presented, SIA “Lindex Latvia” stated that its activities were affected last year by the Covid-19 pandemic and related restrictions introduced in the country in the management of physical stores, when they were closed in the first half of 2021.
“In the year under review, the online store achieved significantly better results than expected, thus partially covering the revenues not obtained in physical stores, however the budget foreseen for 2021 was not reached”, reads the SIA management report ” Lindex Latvia “.
The company said that both it and the entire Latvian retail sector stagnated in brick-and-mortar stores last year due to Covid-19 restrictions.
This year, the company intends to take steps to strengthen its market position in the brick-and-mortar and e-commerce sectors by providing excellent service and focusing on cost optimization and increased efficiency.
“The Lindex Group has shown significant growth in sales volumes in the first half of 2022. This is basically explained by a strong increase in sales in brick-and-mortar stores. The company continues to work on developing strong offerings that meet customer needs. “, stated SIA” Lindex Latvia “.
In 2020 SIA “Lindex Latvia” worked with a turnover of 8,867 million euros and a profit of 333,316 euros.
The shareholder of SIA “Lindex Latvia” is the Finnish Lindex Oy. SIA “Lindex Latvia” has been registered in Latvia since 2005.
