Home / Knowledge / News / Apparel/Garments / Stockmann Jan-Sept sales down 1.4%
Stockmann Jan-Sept sales down 1.4%
Oct '13
July - September 2013:

-Consolidated revenue was EUR 454.4 million (EUR 485.1 million), down 4.6 per cent excluding terminated franchising operations.
-Operating profit was EUR 10.7 million (EUR 17.1 million).

January - September 2013:

-Consolidated revenue was EUR 1 429.3 million (EUR 1 472.6 million), down 1.4 per cent excluding terminated franchising operations.
-Operating profit was EUR 6.1 million (EUR 30.5 million).
-Profit for the period was EUR 11.9 million (EUR 5.8 million).
-Earnings per share came to EUR 0.16 (EUR 0.08).
-Tax refund of EUR 25.1 million for Lindex increased earnings per share by EUR 0.35.

Full-year outlook revised: Stockmann Group’s revenue in 2013 is expected to be slightly down on 2012, excluding the terminated franchising operations. Even though most of Stockmann’s operating profit is generated during the fourth quarter of the year, operating profit for 2013 is not expected to reach the previous year’s level.

Stockmann previously estimated that its revenue would increase in 2013, excluding the terminated franchising operations. Operating profit was not expected to exceed the figure for 2012.

CEO Hannu Penttilä said, “The retail market environment in the third quarter of the year was very weak, particularly in Finland. Consumer confidence remained low and the warm weather affected sales of autumn merchandise. The weakened Russian, Swedish and Norwegian currencies also had a negative effect on Stockmann’s euro-denominated revenue. As a result, the revenue fell short of our target for the quarter.

Among the Stockmann Group’s businesses, Lindex performed best in the difficult market conditions. It gained market share in all main markets and its operating profit was up for the quarter. The Department Store Division’s operating profit was down on 2012. The weakened rouble, in particular, had a negative effect on the gross margin and operating profit. Seppälä, which is currently undergoing changes, also posted a lower operating profit than in 2012.

Our net profit was improved by the tax refund resulting from the Swedish and German tax authorities’ decision to eliminate Lindex’s double taxation in 1999-2005. Consequently, Stockmann’s earnings per share were up significantly.

The department stores’ Crazy Days campaign, which took place after the third quarter, reached a new sales record and revenue grew in all market areas. However, it is uncertain how consumers will behave during the rest of the final quarter, which is the most important for Stockmann’s full-year operating profit. The cost savings measures that were decided on in the spring will continue. Also it is of utmost importance that we implement structural changes to adapt our cost structure to the lower sales volumes.”

Click here to view full result.

Stockmann Group

Must ReadView All

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Ritu Kumar
Label Ritu Kumar

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

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


July 2017

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

news category

Related Categories:

Planning to Take the Leap towards

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

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