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

Retailers launch US Global Value Chain Coalition

Apparel/Garments | On 24th Oct 2017

Retailers launch US Global Value Chain Coalition

The American Apparel & Footwear Association (AAFA), the National...

Italian textile machinery orders index rises 6% in Q3

Textiles | On 24th Oct 2017

Italian textile machinery orders index rises 6% in Q3

The orders index for Italian textile machinery rose by six per cent...

OECD urges UK for close EU ties to meet Brexit challenges

Textiles | On 24th Oct 2017

OECD urges UK for close EU ties to meet Brexit challenges

The British economy has weakened following the decision to leave the...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Harsh Shah

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

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

October 2017

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
76.1%
No
12.7%
Skip
11.3%

Total Votes: 71

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
62.0%
No
28.2%
Skip
9.9%

Total Votes: 71

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
85.9%
No
9.9%
Skip
4.2%

Total Votes: 71

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
76.1%
No
11.3%
Skip
12.7%

Total Votes: 71


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