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Finnish retailer Stockmann forecasts revenue of €940–€1,000 mn in FY23
19 Jul 23 1 min read
Insights
- Amid inflationary pressures, Finnish retailer Stockmann Group has revised its fiscal 2023 forecast to €940-€1,000 million in revenue.
- The company's projection for adjusted operating result has been revised to €65-€85 million.
- The revised forecast signifies a slight dip in expected revenues compared to Stockmann's earlier projection of €960-€1,020 million.
The new guidance comes as the company acknowledges the continuing high inflation's potential to increase costs from 2022 and negatively impact consumer demand, Stockmann group said in a press release.
This revised forecast signifies a slight dip in expected revenues compared to Stockmann's earlier projection of €960-€1,020 million. On the other hand, the updated operating result estimate marks an increase from the previously anticipated range of €60-€80 million.
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Fibre2Fashion News Desk (DP)
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