Helsinki, Finland, 2014-08-13 07:00 CEST (GLOBE NEWSWIRE) --
STOCKMANN plc, Company Announcement 13.8.2014 at 8:00 EET
The Stockmann Group’s revenue was down 9.4 per cent on the previous year and amounted to EUR 133.4 million in July 2014. Weak exchange rates of the Russian rouble, Swedish krona and Norwegian krone continued to negatively affect euro-denominated revenue. Revenue at comparable exchange rates was down 6.0 per cent.
The Department Store Division’s revenue decreased by 13.6 per cent; down 14.3 per cent in Finland and 12.3 per cent in international operations. The early start of the summer sale in Russia had a negative effect on the revenue in July.
The Fashion Chain Division’s revenue decreased by 4.7 per cent; down 2.2 per cent in Finland and 5.4 per cent in international operations. Lindex’s revenue was up by 3.3 per cent at comparable exchange rates, but due to currency effects, euro-denominated revenue was down 3.1 per cent. Seppälä’s revenue was down 12.5 per cent, partly due to closures of several unprofitable stores in Russia during the past 12 months.
Revenue (exclusive of VAT) in July
|
7/2014 EUR mill. |
Change-% | |
| Department Store Division, Finland | 43.9 | -14.3 |
|
Department Store Division, international operations |
24.0 | -12.3 |
| Department Store Division, total | 67.9 | -13.6 |
| Fashion Chain Division, Finland | 14.1 | -2.2 |
|
Fashion Chain Division, international operations |
51.4 | -5.4 |
| Fashion Chain Division, total | 65.5 | -4.7 |
| Unallocated | 0.0 | |
| Operations in Finland, total | 58.0 | -11.5 |
| International operations, total | 75.4 | -7.7 |
| Stockmann total | 133.4 | -9.4 |
Revenue (exclusive of VAT) in January-July
|
1-7/2014 EUR mill. |
Change-% excl. terminated franchising* |
Change-% | |
| Department Store Division, Finland | 401.8 | -10.1 | -10.8 |
|
Department Store Division, international operations |
201.2 | -10.0 | -10.0 |
| Department Store Division, total | 603.1 | -10.1 | -10.5 |
| Fashion Chain Division, Finland | 77.8 | -9.0 | -9.0 |
|
Fashion Chain Division, international operations |
343.1 | -5.6 | -5.6 |
| Fashion Chain Division, total | 420.9 | -6.2 | -6.2 |
| Unallocated | 0.2 | ||
| Operations in Finland, total | 479.8 | -9.8 | -10.4 |
| International operations, total | 544.3 | -7.2 | -7.2 |
| Stockmann total | 1 024.1 | -8.5 | -8.7 |
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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