Helsinki, Finland, 2014-03-14 09:00 CET (GLOBE NEWSWIRE) --
STOCKMANN plc, Company Announcement 14.3.2014 at 10:00 EET
The Stockmann Group’s revenue amounted to EUR 110.5 million in February 2014. Excluding the terminated Zara franchising operations in Finland, revenue was down 14.8 per cent on the previous year. The decline was due to the challenging market environment and currency effects, mainly the Russian rouble, which weakened by almost 20 per cent compared to the euro. Revenue at comparable exchange rates was down 12.6 per cent.
The Department Store Division’s revenue was down 18.2 per cent, if the terminated Zara franchising operations are excluded. In addition to market conditions and the weakened rouble, changes in the loyal customer campaign affected revenue. Revenue, excluding franchising, was down 18.2 per cent both in Finland and in international operations. Rouble-denominated revenue was also down in Russia.
The Fashion Chain Division’s revenue decreased by 9.1 per cent; down 14.4 per cent in Finland and down 7.9 per cent in international operations. Lindex’s euro-denominated revenue decreased by 6.3 per cent or by 1.9 per cent at comparable exchange rates. Seppälä’s revenue was down 25.1 per cent and revenue declined in all countries.
Revenue (exclusive of VAT) in February
|
2/2014 EUR mill. |
Change-% excl. terminated franchising* |
Change-% | |
| Department Store Division, Finland | 46.2 | -18.2 | -20.2 |
|
Department Store Division, international operations |
20.8 | -18.2 | -18.2 |
| Department Store Division, total | 67.1 | -18.2 | -19.6 |
| Fashion Chain Division, Finland | 7.7 | -14.4 | -14.4 |
|
Fashion Chain Division, international operations |
35.8 | -7.9 | -7.9 |
| Fashion Chain Division, total | 43.5 | -9.1 | -9.1 |
| Unallocated | 0.0 | ||
| Operations in Finland, total | 53.9 | -17.6 | -19.3 |
| International operations, total | 56.7 | -12.0 | -12.0 |
| Stockmann total | 110.5 | -14.8 | -15.7 |
Revenue (exclusive of VAT) in January-February
|
1-2/2014 EUR mill. |
Change-% excl. terminated franchising* |
Change-% | |
| Department Store Division, Finland | 103.5 | -12.3 | -14.6 |
|
Department Store Division, international operations |
53.8 | -9.9 | -9.9 |
| Department Store Division, total | 157.3 | -11.5 | -13.0 |
| Fashion Chain Division, Finland | 18.6 | -8.2 | -8.2 |
|
Fashion Chain Division, international operations |
78.5 | -4.5 | -4.5 |
| Fashion Chain Division, total | 97.1 | -5.2 | -5.2 |
| Unallocated | 0.0 | ||
| Operations in Finland, total | 122.2 | -11.6 | -13.5 |
| International operations, total | 132.3 | -6.8 | -6.8 |
| Stockmann total | 254.5 | -9.1 | -10.1 |
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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