Home / Knowledge / News / Apparel/Garments / Stockmann sees steady growth in operating profit
Stockmann sees steady growth in operating profit
01
Nov '12
Stockmann Group release Interim Report from January 1 to September 30. 

Highlights:

July - September 2012:
Consolidated revenue was up 5.2 per cent to EUR 485.1 million (EUR 461.3 million). 
Operating profit was up 12.5 per cent to EUR 17.1 million (EUR 15.2 million).
 
January - September 2012:
Consolidated revenue was up 6.8 per cent to EUR 1 472.6 million (EUR 1 379.2 million). 
Operating profit increased by EUR 19.7 million to EUR 30.5 million (EUR 10.8 million). 
Profit for the period was 5.8 EUR million (EUR -14.4 million).
Earnings per share came to EUR 0.08 (EUR -0.20).
Full-year outlook unchanged: Revenue and operating profit expected to be above the figures for 2011, provided that the market sentiment does not significantly worsen. 
 
CEO Hannu Penttilä:
The Stockmann Group’s revenue and operating profit continued to grow steadily in the third quarter of 2012. The strongest sales growth was achieved by Lindex, which gained market share in all markets except Norway. The growth was mainly due to the successful campaign against breast cancer that was carried out in September together with Missoni. As a result, Lindex posted a clear improvement in its earnings. 
 
Seppälä was not as successful as it was in the third quarter of 2011. We are confident that the new organisational structure and the Fashion Chain Division that was established in June will help Seppälä’s operations become more profitable again. The brand renewal project which was started during the quarter is expected to have a positive impact on Seppälä’s operations in the coming years. 
 
Stockmann’s department stores in Russia continued to perform well, with the St Petersburg flagship store leading the way. Operating profit improved again in Russia, despite the loss-making Bestseller operations which will be closed by the end of the year. The Baltic department stores also continued their good performance. Operating profit was lower than the previous year in Finland where there are signs of weakening consumer purchasing behaviour. 
 
 

Must ReadView All

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Apparel/Garments | On 27th Apr 2017

EC takes action to make garment sector more sustainable

The European Commission (EC) has presented a set of focused actions...

Textiles | On 27th Apr 2017

Seven new organisations join ZDHC Programme

The Zero Discharge of Hazardous Chemicals (ZDHC) Programme from...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X