Rimi Baltic Pulled Down By Regional Plunge

Operating in the region arguably worst affected by the global financial crisis in 2009, leading Baltic-based mass grocery retailer (MGR) Rimi Baltic has unsurprisingly reported an 11.9% year-on-year (y-o-y) contraction in year-end (the 12 months ending December 2009) sales to EUR1.15bn. Despite operating mostly in the discount segment, estimated economic y-o-y GDP contractions close to 15%, or more, in Estonia, Latvia and Lithuania in 2009 profoundly affected consumer

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