The Stockmann Group’s revenue amounted to EUR 143.9 million in January 2014. Excluding the terminated Zara franchising operations in Finland, revenue was down 4.3 per cent on the previous year. Retail market continued to be very weak in Finland.
Further weakening of the Russian and Norwegian currencies also negatively affected euro-denominated revenue. Revenue at comparable exchange rates was down 2.4 per cent.
The Department Store Division’s revenue was down 5.7 per cent, if the terminated Zara franchising operations are excluded. Revenue, excluding franchising, was down 6.9 per cent in Finland.
Euro-denominated revenue in international operations was down 3.7 per cent. Rouble-denominated revenue was up in Russia.
The Fashion Chain Division’s revenue was down 1.9 per cent; down 3.2 per cent in Finland and down 1.5 per cent in international operations. Lindex’s euro-denominated revenue was down 0.9 per cent, but up 1.9 per cent at comparable exchange rates.
Strong growth continued in the new markets. Seppälä’s revenue was down 6.3 per cent. Revenue was up in the Baltic countries, but down in Finland and in Russia. Rouble-denominated revenue in comparable stores was up in Russia.