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Stockmann's revenue skids 7.7% to €151.2mn in June
11 Jul '14
1 min read
The Stockmann Group’s revenue was down 7.7 per cent on the previous year and amounted to EUR 151.2 million in June 2014.
The decline was partly due to weak currency exchange rates of the Russian rouble, Swedish krona and Norwegian krone. Revenue at comparable exchange rates was down 5.0 per cent.
The Department Store Division’s revenue decreased by 7.0 per cent; down 9.7 per cent in Finland and 1.2 per cent in international operations. Revenue in rouble grew strongly in the Russian department stores where the summer sale was started a week earlier than in 2013.
The Fashion Chain Division’s revenue decreased by 8.7 per cent; down 16.0 per cent in Finland and 6.9 per cent in international operations.
Lindex’s euro-denominated revenue was down 5.2 per cent but at comparable exchange rates, revenue was nearly on a par with the previous year. Seppälä’s revenue was down 28.3 per cent, partly due to closures of several unprofitable stores during the first half of 2014.
Stockmann Group
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