Home / Knowledge / News / Apparel/Garments / Stockmann Aug sales down 9.1% from exchange woes
Stockmann Aug sales down 9.1% from exchange woes
13
Sep '14
Weak exchange rates continued to trouble Finnish Group Stockmann August sales, which also counts fashion retailer Lindex among its fold.

Stockmann Group’s August revenue was down 9.1 percent from a year ago period and reached EUR 138.5 million in August 2014. Revenue at comparable exchange rates was also down 6.3 per cent.

Weak exchange rates of Russian Rouble, Swedish Krona and Norwegian Krone continued to negatively affect euro-denominated revenue, Stockmann said.

Within divisions, revenue at the Department Store division was up in Baltic countries and Russia, but weak performance continued in Finland.

In August, the division’s euro-denominated revenue in total decreased by 10.7 percent from last August, due to a decline of 13.8 percent in Finland and 3.0 percent in global operations.

Sales at the Fashion Chain division fell 7.4 percent year-on-year in August, due to a 9.8 percent and 6.9 percent decline in Finland and international operations, respectively.

At comparable exchange rates, fashion retailer Lindex posted flat revenues against those reported in the previous August.

However, currency effects led to August euro-denominated revenue decrease 5.2 percent from same month of 2013 at Lindex.

Partly due to closures of several unprofitable stores in Russia during the past 12 months, Seppälä’s sales too were down 20.7 percent year-on-year in August. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Textiles | On 20th Apr 2018

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Vietnam earned $7.339 billion from textile and garment exports in the ...

Uganda yet to exploit AGOA benefits: US envoy Malac

Apparel/Garments | On 20th Apr 2018

Uganda yet to exploit AGOA benefits: US envoy Malac

Uganda is yet to take full advantage of the Africa Growth and...

Courtesy: KBR, Inc

Textiles | On 20th Apr 2018

KBR completes KPIC’s ethylene plant revamp project

KBR, Inc. has successfully completed the ethylene plant revamp...

Interviews View All

Top executives
Textile industry, India

The event should be organised every year

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

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

Leave your Comments


April 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search