Home / Knowledge / News / Apparel/Garments / Weak market & currency effects hit Stockmann Feb sales
Weak market & currency effects hit Stockmann Feb sales
14
Mar '14
The Stockmann Group’s revenue amounted to EUR 110.5 million in February 2014. Excluding the terminated Zara franchising operations in Finland, revenue was down 14.8 per cent on the previous year.

The decline was due to the challenging market environment and currency effects, mainly the Russian rouble, which weakened by almost 20 per cent compared to the euro. Revenue at comparable exchange rates was down 12.6 per cent.

The Department Store Division’s revenue was down 18.2 per cent, if the terminated Zara franchising operations are excluded. In addition to market conditions and the weakened rouble, changes in the loyal customer campaign affected revenue.

Revenue, excluding franchising, was down 18.2 per cent both in Finland and in international operations. Rouble-denominated revenue was also down in Russia.

The Fashion Chain Division’s revenue decreased by 9.1 per cent; down 14.4 per cent in Finland and down 7.9 per cent in international operations.

Lindex’s euro-denominated revenue decreased by 6.3 per cent or by 1.9 per cent at comparable exchange rates. Seppälä’s revenue was down 25.1 per cent and revenue declined in all countries.

Stockmann

Must ReadView All

Textiles | On 25th Aug 2016

GST rate of 18% should be ideal: CII President

Goods and Services Tax (GST) rate of 18 per cent would be ideal, and...

Courtesy: Sybly Industries

Textiles | On 25th Aug 2016

Sybly starts manufacturing recycled polyester yarn

Polyester yarn manufacturer Sybly Industries Limited has started...

Textiles | On 25th Aug 2016

Prepare development strategy to 2025: VITAS tells govt

The Vietnam Textile and Garment Association (VITAS) has urged the...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mohammad Hassan
Biax Fiberfilm

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
August 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search