European retailer Apranga's turnover surges 12.6% in Q4 FY23

04 Jan '24

2 min read

Pic: Apranga

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Apranga Group reported a Q4 FY23 turnover of €95.2 million, an increase of 12.6 per cent year-on-year.
Significant growth was seen across the Baltic states, with increases in Lithuania, Latvia, and Estonia.
FY23's unaudited turnover was €326.4 million, a 11.3 per cent rise.
The group expanded with 12 new stores and renovated 8 but closed 11 stores.

Europe-based fashion retailer Apranga Group has reported a turnover of €95.2 million for the fourth quarter of fiscal year 2023 (Q4 FY23), marking a significant 12.6 per cent rise compared to the same period last year.

The growth was notably strong across the Baltic region. In Lithuania, Apranga Group's Q4 FY23 turnover increased by 12.3 per cent, while Latvia saw an even higher surge of 16.6 per cent. Estonia also reported growth, with a 7.1 per cent increase in turnover year-on-year, the company said in a press release.

Reflecting on fiscal 2023, Apranga Group's unaudited retail turnover, inclusive of VAT, was €326.4 million, up by 11.3 per cent from the previous year. The country-wise breakdown for FY23 reveals that Lithuania accounted for the largest share of turnover, with €196.9 million, an increase of 10.6 per cent. Latvia followed with a turnover of €79.5 million, rising by 12.1 per cent, and Estonia's turnover stood at €50.0 million, up by 12.6 per cent.

The company opened 12 new stores and renovated 8 stores in FY23, with 5 of these stores being enlarged and 3 relocated to different shopping malls. However, the group also closed 11 stores as part of its strategic adjustments.

Currently, Apranga Group operates a total of 169 stores, with 100 in Lithuania, 44 in Latvia, and 25 in Estonia. This network covers a gross area of 90.8 thousand square meters, slightly up by 0.2 per cent from the previous year.

Fibre2Fashion News Desk (DP)

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