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

Fashion | On 28th Jul 2016

Gildan acquires Peds for $55 million

Montreal-based family apparel marketer Gildan Activewear Inc....

Information Technology | On 28th Jul 2016

E-com can generate 12 mn jobs in India

E-commerce has the potential to add 12 million of the 80 million new...

Textiles | On 28th Jul 2016

Odisha wants SPV rule for textile parks relaxed

The one third textile entrepreneur stipulation in forming SPVs or...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Giorgio Mantovani
Corman S.p.A

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

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

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
June 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search