Helsinki, Finland, 2014-02-13 07:00 CET (GLOBE NEWSWIRE) --
STOCKMANN plc, Company Announcement 13.2.2014 at 8:00 EET
The Stockmann Group’s revenue amounted to EUR 143.9 million in January 2014. Excluding the terminated Zara franchising operations in Finland, revenue was down 4.3 per cent on the previous year. Retail market continued to be very weak in Finland. Further weakening of the Russian and Norwegian currencies also negatively affected euro-denominated revenue. Revenue at comparable exchange rates was down 2.4 per cent.
The Department Store Division’s revenue was down 5.7 per cent, if the terminated Zara franchising operations are excluded. Revenue, excluding franchising, was down 6.9 per cent in Finland. Euro-denominated revenue in international operations was down 3.7 per cent. Rouble-denominated revenue was up in Russia.
The Fashion Chain Division’s revenue was down 1.9 per cent; down 3.2 per cent in Finland and down 1.5 per cent in international operations. Lindex’s euro-denominated revenue was down 0.9 per cent, but up 1.9 per cent at comparable exchange rates. Strong growth continued in the new markets. Seppälä’s revenue was down 6.3 per cent. Revenue was up in the Baltic countries, but down in Finland and in Russia. Rouble-denominated revenue in comparable stores was up in Russia.
Revenue (exclusive of VAT) in January
|
1/2014 EUR mill. |
Change-% excl. terminated franchising* |
Change-% | |
| Department Store Division, Finland | 57.3 | -6.9 | -9.4 |
|
Department Store Division, international operations |
33.0 | -3.7 | -3.7 |
| Department Store Division, total | 90.2 | -5.7 | -7.4 |
| Fashion Chain Division, Finland | 11.0 | -3.2 | -3.2 |
|
Fashion Chain Division, international operations |
42.7 | -1.5 | -1.5 |
| Fashion Chain Division, total | 53.7 | -1.9 | -1.9 |
| Unallocated | 0.0 | ||
| Operations in Finland, total | 68.3 | -6.2 | -8.3 |
| International operations, total | 75.7 | -2.5 | -2.5 |
| Stockmann total | 143.9 | -4.3 | -5.3 |
Change-%: change compared with the corresponding period of the previous year.
*Change compared with the revenue excluding the Zara franchising operations in Finland which were terminated on 1 March 2013.
Further information:
Hannu Penttilä, CEO, tel. +358 9 121 5801
Pekka Vähähyyppä, CFO, tel. +358 9 121 3351
www.stockmanngroup.com
STOCKMANN plc
Hannu Penttilä
CEO
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NASDAQ OMX
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