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Stockmann Group’s April revenue slips 10.4% to €190mn

May 16, 2014 (Finland)

Stockmann plc, reports revenue for April 2014. The Stockmann Group’s revenue was down 10.4 per cent on the previous year and amounted to EUR 190.0 million in April 2014.
 
The decline was primarily due to weak exchange rates of the Russian rouble, Swedish krona and Norwegian krone. Revenue at comparable exchange rates was down 5.6 per cent. Due to the timing of Easter, April had in many countries two sales days less than in 2013.
 
The Department Store Division’s revenue was down 11.5 per cent. Revenue decreased by 11.3 per cent in Finland, where the weak market conditions continued to negatively affect sales. Euro-denominated revenue was down 11.9 per cent in international operations. Revenue in rouble was up in the Russian department stores.
 
Revenue grew also in the Baltic countries. Revenue in the Crazy Days campaign was close to the previous year’s level at comparable exchange rates but down 6 per cent in euros.
 
The Fashion Chain Division’s revenue decreased by 8.0 per cent; down 13.0 per cent in Finland and 6.9 per cent in international operations. Lindex’s euro-denominated revenue was down 4.3 per cent due to currency effects.
 
At comparable exchange rates revenue was up by 2.5 per cent with growth in most of the markets. Seppälä’s revenue was down 30.8 per cent. The decline was partly due to store closings in Russia during the past 12 months.
 

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