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

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Urmil Arya

Sushila International, a well established textile organisation established ...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Suresh Patel
Sidwin Fabric

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

January 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
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

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
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

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
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

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
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


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