Helsinki, Finland, 2015-01-09 14:30 CET (GLOBE NEWSWIRE) --
STOCKMANN plc, Company Announcement 9.1.2015 at 15:30 EET
Stockmann corrects its release published earlier today, 9 January 2015. The release contained an error in Lindex’s preliminary revenue in December 2014. Lindex’s euro-denominated revenue was down 5.7 per cent in December 2014 (earlier incorrect figure -9.9 per cent). The correction has also an impact on the Fashion Chain Division’s and the Stockmann Group’s preliminary revenue in December 2014 and for full year 2014.
The corrected release in full can be found below.
Stockmann Group's preliminary revenue in December and for full year 2014
The Stockmann Group’s preliminary revenue was down 10.2 per cent on the previous year and amounted to EUR 208.1 million in December 2014. The decline was mainly due to currency effects, mainly the Russian rouble, which weakened 55 per cent on the previous year compared to the euro. Revenue at comparable exchange rates was down 3.8 per cent.
The Department Store Division’s revenue was up 20 per cent on the previous year in Russia in rouble. Due to the very weak exchange rate of the rouble, euro-denominated revenue was down 24 per cent in Russia. In Finland and in the Baltic countries, Christmas sales were below the level for 2013 in all units except the Stockmann online store. The division’s total euro-denominated revenue decreased by 11.4 per cent; down 8.2 per cent in Finland and 19.4 per cent in international operations.
Lindex’s revenue in local currencies was on a par with the previous year or down 5.7 per cent in euro-denominated revenue. Seppälä’s revenue was down 24.1 per cent or down 13.1 per cent in comparable stores, excluding the closed 33 stores in 2014. The Fashion Chain Division’s total revenue decreased by 8.4 per cent; down 10.2 per cent in Finland and 8.0 per cent in international operations.
Revenue for 2014
The Stockmann Group’s preliminary revenue for the full year 2014 amounted to EUR 1 844.5 million. Revenue was down 9.3 per cent on the previous year, or down 5.5 per cent at comparable exchange rates.
The Department Store Division’s revenue was down 10.5 per cent. Revenue was up in the Baltic countries and in local currency in the Russian department stores, but euro-denominated revenue in international operations was down 11.0 per cent. Revenue was down 10.2 per cent in Finland.
Lindex’s revenue in local currencies was on a par with the previous year or down 5.3 per cent in euro-denominated revenue. Seppälä’s revenue was down 21.3 per cent. The Fashion Chain Division’s revenue was down 7.7 per cent; down 9.3 per cent in Finland and down 7.3 per cent in international operations.
Stockmann will publish its financial statements bulletin for 2014 on 13 February 2015 at 8:00 EET. The company’s financial statements, the report by the Board of Directors and an electronic version of the Annual Report 2014 will be published in the week starting on 23 February 2015.
Revenue (exclusive of VAT) in December
|
12/2014 EUR mill. |
Change-% | |
| Department Store Division, Finland | 94.0 | -8.2 |
|
Department Store Division, international operations |
33.0 | -19.4 |
| Department Store Division, total | 127.0 | -11.4 |
| Fashion Chain Division, Finland | 16.0 | -10.2 |
|
Fashion Chain Division, international operations |
65.1 | -8.0 |
| Fashion Chain Division, total | 81.1 | -8.4 |
| Unallocated | 0.0 | |
| Operations in Finland, total | 110.0 | -8.4 |
| International operations, total | 98.1 | -12.2 |
| Stockmann total | 208.1 | -10.2 |
Revenue (exclusive of VAT) in January-December
|
1-12/2014 EUR mill. |
Change-% excl. terminated franchising* |
Change-% | |
| Department Store Division, Finland | 745.5 | -10.2 | -10.6 |
|
Department Store Division, international operations |
355.1 | -11.0 | -11.0 |
| Department Store Division, total | 1 100.6 | -10.5 | -10.7 |
| Fashion Chain Division, Finland | 136.5 | -9.3 | -9.3 |
|
Fashion Chain Division, international operations |
607.1 | -7.3 | -7.3 |
| Fashion Chain Division, total | 743.6 | -7.7 | -7.7 |
| Unallocated | 0.3 | ||
| Operations in Finland, total | 882.3 | -10.0 | -10.3 |
| International operations, total | 962.1 | -8.7 | -8.7 |
| Stockmann total | 1 844.5 | -9.3 | -9.5 |
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:
Pekka Vähähyyppä, CFO, tel. +358 9 121 3351
Nora Malin, Director, Corporate Communications, tel. +358 9 121 3558
www.stockmanngroup.com
STOCKMANN plc
Nora Malin
Director, Corporate Communications
Distribution:
Nasdaq Helsinki
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