The founder and chairman of Lithuanian property developer Hanner, Arvydas Avulis, is the country’s most influential business person, according to two new polls, BNS reports. Avulis ranked highest in surveys of both the country’s professional elite and general public. Combining the two polls, 51.6% of respondents ranked Avulis first. Dainius Dundulis, founder and owner of…
New EU sanctions have forced the Russian-owned supermarket chain, Mere, to close down its discount stores in Latvia and Lithuania, LETA reports. The EU’s latest package of sanctions against Russia lists the companies operating the Mere chain, and their majority owner, Russian businessman Sergey Shnayder. They were sanctioned for supporting activities that undermine Ukraine’s territorial…
Most major grocery retail chains in Estonia managed to increase their revenue only very slightly in 2025, ERR reported. The country’s largest grocery retailer, cooperative network Coop Eesti, reported consolidated revenue of EUR 855.3mn in 2025, which was up 0.2% from 2024. Coop’s market share stood at nearly 23%. Supermarket chain Selver’s annual revenue totalled…
Latvia’s Competition Council concluded seven high-priority cases on violations of and non-compliance with competition law in 2025, LSM reports. Total fines issued in the cases amounted to EUR 2.5mn, according to the council’s annual report. The public benefit increased by around 25% over a year, the Competition Council estimated. The biggest sanctions included a EUR…
Estonia’s annual inflation may reach 6% or higher in 2025, driven by the rise in energy and food prices, local analysts forecast, ERR reports. Triinu Tapver, analyst at LHV Pank, said that inflation could amount to as much as 6.2-6.5% in 2025, which would be up sharply from the bank’s earlier estimate of 4.5% at…
Lithuanian supermarket operator Maxima Group generated consolidated revenue totalling EUR 3bn in the first half of 2024, which was up 4.7% from the same period of 2023, GlobeNewswire reported. Like-for-like retail sales rose by 2.2% over a year, including by 4.7% in the Baltic States. Online sales dropped by EUR 8mn. The group’s six-month EBITDA…
Amid rising incomes and optimism about their financial situation, Lithuanians are spending more on food and non-essentials but are increasingly reluctant to dine out due to high restaurant prices driven by rising labour costs and the expiration of pandemic-era tax breaks, LRT reports. While supermarket food sales are boosting economic growth, restaurant turnover has fallen…
Latvia’s state-owned postal services provider, Latvijas Pasts, has reversed its decision to close down more than half of its post offices, LETA reports. The company will only close down 12 post offices in places where the number of post offices exceeds the requirements on universal postal services. Latvijas Pasts plans to relocate post offices in…
Retailers in Estonia expect declining sales in the first half of 2024 amid lower consumer confidence, ERR reports. Many consumers plan to go shopping in neighbouring countries due to the rise in the VAT rate from 20% to 22% as of 1 January 2024, according to a Norstat poll for Citadele bank, BNS reports. The…
