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News Flash
Stockmann sees steady growth in operating profit
01 Nov '12
5 min read
Stockmann’s decision to discontinue the loss-making Bestseller franchising operation during 2012 will have an impact on revenue in Russia, but will improve operating profit from 2013 onwards. Stockmann’s target is to achieve a positive operating profit, excluding Bestseller operations, in Russia in 2012.
During 2012, Stockmann will concentrate on gaining the full benefit of its recently completed capital expenditure projects as well as on the efficient use of capital. Additionally, attention will be given to improving cost efficiency in all units. The Group’s capital expenditure is estimated to be clearly lower than depreciation, and to amount to approximately EUR 50 million in 2012.
Stockmann expects the Group’s revenue and operating profit to be above the figures for 2011, provided that the market sentiment does not significantly worsen.
Stockmann Group
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