Finland : July fashion division sales slip 4.7% at Stockmann

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July fashion division sales slip 4.7% at Stockmann

13
Aug '14

Fashion division revenue at Stockmann dipped 4.7 percent year-on year in the month of July, the Finnish retailer said.

Of which, sales were down 2.2 percent from a year ago in Finland and also fell 5.4 percent in its international operations.

Among fashion divisions, Lindex revenue was up 3.3 percent from a year earlier at comparable exchange rates, but due to currency effects, euro-denominated revenue was down 3.1 percent.

Seppälä’s revenue was down 12.5 percent, partly due to closures of several unprofitable stores in Russia during the past 12 months.

Considering group revenues, Stockmann’s Group sales were down 9.4 percent on the previous year and amounted to EUR 133.4 million in July 2014. Revenue at comparable exchange rates was down 6.0 percent.

Stockmann said, weak exchange rates of the Russian rouble, Swedish krona and Norwegian krone continued to negatively affect euro-denominated revenue.

The Department Store Division’s revenue slipped 13.6 percent year-on-year made up by a fall of 14.3 percent in Finland and 12.3 percent in international operations.

It said the early start of the summer sale in Russia had a negative effect on the revenue in July.

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