Home / Knowledge / News / Apparel/Garments / Adjusted operating result at Stockmann improves in 2018

Adjusted operating result at Stockmann improves in 2018

Feb '19
Pic: Stockmann
Pic: Stockmann
During fiscal 2018, the Stockmann Group’s adjusted operating result improved by €16 million as compared to fiscal 2017. The improvement was mainly due to Lindex’s successful turnaround. Lindex managed to grow its share in its main markets, and its online sales continued to grow well throughout the year. Lindex’s adjusted operating profit almost doubled.

"Stockmann Retail did not achieve a positive result, despite our efforts. Full-year sales in 2018 fell short of our target, to our true disappointment. The operating result weakened mostly in the last quarter of the year, despite good growth in online sales in the quarter. In early 2019, we launched a project aiming at reducing the Group’s expenses by € 20 million by the end of the year. The majority of these measures will affect the Retail division," CEO Lauri Veijalainen.

During October-December 2018, the consolidated revenue was recorded at €304.5 million, down 1.3 per cent in comparable currency rates. The gross margin was 55.6 per cent.

For fiscal 2019, Stockmann expects the group’s adjusted operating profit, excluding the impact of Nevsky Centre, to improve compared to 2018. "We will continue the implementation of our strategic projects, seek to secure sales and improve the gross margin. We will also accelerate our renewal measures including our digital journey, the effects of which will become visible for our customers during the year," concluded Veijalainen. (RR)

Fibre2Fashion News Desk – India

Must ReadView All

Pic: Shutterstock

Textiles | On 27th Feb 2020

Australia willing to consider FTA with India on RCEP lines

Australia is willing to consider a bilateral free trade agreement...

Pic: Shutterstock

Apparel/Garments | On 27th Feb 2020

Hun Sen asks PRC garment investors not to leave Cambodia

Prime Minister Hun Sen recently again told Chinese garment sector...

Pic: Shutterstock

Textiles | On 27th Feb 2020

ADD removal on PTA respite to man-made textiles: Ind-Ra

The withdrawal of anti-dumping duty (ADD) on purified terephthalic...

Interviews View All

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Luke Otten, Wigwam Mills Inc

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Binoy Ravjani, Hero's Fashion

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Pratik Agarwal,

Pratik Agarwal

Breya is a brand of Indo-Western clothes for women owned by ABP Apparels...

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

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

Sonam & Paras Modi, SVA

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

February 2020

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

Advanced Search