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Stockmann Group’s sales in September down by 10.7 per cent

Helsinki, Finland, 2016-Oct-18 — /EPR Retail News/ — The Stockmann Group’s sales in September were down by 10.7 per cent and amounted to EUR 82.5 million in continuing product areas and businesses.

Stockmann Retail’s sales in continuing product areas and businesses were down by 11.9 per cent in September due to fewer price-driven campaigns than in 2015 and on-going renovations. Sales were down by 13.5 per cent in Finland and by 2.9 per cent in the Baltic countries.

Lindex’s sales were down by 9.6 per cent at comparable exchange rates. Sales increased in the Baltic countries, but decreased in the main markets in the Nordics. The decline was following the fashion market development in Sweden (“Stilindex”), where the market decline was 8.2 per cent mainly due to the exceptionally warm weather. Euro-denominated sales were down by 9.8 per cent.

Crazy Days campaign in October
The Crazy Days campaign was held in the Stockmann department stores and online store on 12–16 October 2016. A new online store was launched for the campaign in Finland, and online orders increased significantly during the campaign. In total, the comparable campaign sales were down by 2 per cent. Sales were down by 2 per cent in Finland, and on a par with the previous year in the Baltic countries. The strongest sales were achieved in cosmetics in Finland and in food in the Baltic countries.

“After a tough September, we are rather satisfied with the result achieved in the Crazy Days campaign. Despite some changes in the campaign’s offering, sales were close to the last year’s level, with over 1.4 million sales receipts in our brick-and-mortar stores and over a million of visitors in the renewed online store, resulting in great growth in the online sales. This is a good starting point for the last quarter of the year, which plays a crucial role in Stockmann’s full-year performance,” says CEO Lauri Veijalainen.

Sales (exclusive of VAT) in September

EUR mill.
Change-%* 1-9/2016
EUR mill.
Stockmann Retail, Finland 28.3 -13.5 299.3 -10.9
Stockmann Retail, international operations 5.7 -2.9 58.2 -3.3
Stockmann Retail, total 34.0 -11.9 357.5 -9.7
Lindex, total 48.5 -9.8 458.4 0.6
Group, Finland, total 33.5 -12.1 350.7 -9.5
Group, international operations, total 49.0 -9.6 465.1 0.3
Stockmann Group, total* 82.5 -10.7 815.8 -4.2

*Continuing product areas and businesses i.e. excluding Russian retail operations, Seppälä, Hobby Hall, Stockmann Beauty, the airport store and the product areas the company has withdrawn from in department stores (electronics, books, sports equipment, toys and pet supplies).

Stockmann’s total sales in September 2016 were EUR 87.9 million, including Hobby Hall. In September 2015, sales were EUR 111.7 million, including also Russian retail operations and discontinued product areas in department stores.

Change-%: change compared with the corresponding period of the previous year. The Group’s sales figures include merchandise sales exclusive VAT in stores and department stores. The figures do not include other operating income such as rental income or service fees.

Further information:
Lauri Veijalainen
tel. +358 9 121 5062

Nora Malin
Corporate Communications
tel. +358 9 121 3558

Source: STOCKMANN plc

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