Helsinki, Finland, 2016-01-15 14:30 CET (GLOBE NEWSWIRE) --
STOCKMANN plc, Company Announcement 15.1.2016 at 15:30 EET
Stockmann corrects the change percentage of sales in December 2015 which was published today in the table in the company announcement. The correct figure of Stockmann Group’s change in sales in December is -14.9 per cent. The figure reported earlier, -10.4 per cent, is the change in the Group’s sales excluding Seppälä. The euro-denominated figure EUR 173.7 million and sales growth of 1.6 per cent in the continuing product and market areas are correct in the original release.
The corrected release in full can be found below.
Stockmann Group's sales in December and for full year 2015
The Stockmann Group's sales in December amounted to EUR 173.7 million, of which retail sales under the Stockmann and Lindex brands, excluding Russia and the product areas the company has withdrawn from, amounted to EUR 146.0 million. Sales in the continuing product and market areas were up 1.6 per cent due to Lindex’s excellent Christmas sales.
The Group’s sales for the full year 2015 amounted to EUR 1 563.0 million, of which retail sales under the Stockmann and Lindex brands, excluding Russia and the product areas the company has withdrawn from, amounted to EUR 1 245.8 million. Sales in the continuing product and market areas were down by 1.3 per cent.
“In 2015, the Stockmann Group implemented its strategy determinedly and withdrew from several operations that were outside its core business. Stockmann will also withdraw from its retail business in Russia. In the future we will focus on retail under the Stockmann and Lindex brands, and our real estate operations. Although the full-year sales of our core business did not grow, the direction is the correct one. Stockmann’s comparable sales were up in December and our market share in our biggest product area, fashion, has grown in 2015, although we have reduced the number of price-driven campaigns. Lindex was very successful in its Christmas sales with sales growth of over 8 per cent in December,” says Per Thelin, CEO of Stockmann.
Stockmann divested Seppälä and the Academic Bookstore during 2015, and also replaced some of its own product areas in the department stores (e.g. electronics, books and toys) by those of tenants. A new owner is being searched for the Hobby Hall distance retail business in Finland. In November 2015, Stockmann announced that it will sell its Russian department store operations to Reviva Holdings Limited. The operations are estimated to transfer to the new owner on 1 February 2016. In its financial statement for 2015 Stockmann will report Russian department store business as a discontinuing operation. Stockmann will publish its financial statements bulletin for 2015 on 18 February 2016 at 8:00 EET.
Sales in December 2015
The Stockmann Group's sales amounted to EUR 173.7 million in December 2015. Sales in the continuing product and market areas (excluding Russian retail operations, Seppälä, Hobby Hall, and the product areas the company has withdrawn from) were up 1.6 per cent.
Stockmann Retail's sales in the continuing product and market areas (excluding Russia, Seppälä, Hobby Hall, and the product areas the company has withdrawn from) were down by 5.6 per cent. In Finland, department stores’ sales in the continuing product areas were down by 6.2 per cent, which was partly due to a smaller number of price-driven sale campaigns. The strongest sales growth was achieved in the cosmetics product area. Sales in the Baltic countries’ continuing product areas were down by 1.0 per cent. Partly due to the weak Russian rouble, euro-denominated sales in Russia were down by 25.4 per cent.
Lindex's sales were up 7.2 per cent at comparable exchange rates. The good sales development continued, with growth in all countries except in Russia and Poland, where Lindex has closed down stores during the year. Children’s wear had the best sales growth of all product areas. Euro-denominated sales were up 8.3 per cent, or 9.4 per cent excluding Russia.
Sales in 2015
The Stockmann Group’s sales for the full year 2015 amounted to EUR 1 563.0 million. Sales in the continuing product and market areas were down by 1.3 per cent.
Stockmann Retail's sales in the continuing product and market areas were down by 4.0 per cent. In Finland, department stores’ sales in the continuing product areas were down by 3.8 per cent, and in Baltic countries by 4.9 per cent. Euro-denominated sales in the Russian department stores were down by 25.8 per cent, mainly due to the weak Russian rouble.
Lindex sales were up 3.3 per cent at comparable exchange rates, with growth in all the market areas. Euro-denominated sales were up 0.3 per cent.
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.
Sales (exclusive of VAT) in December
|
12/2015 EUR mill. |
Change-% | Change-%, continuing product and market areas* | |
| Stockmann Retail, Finland | 72.0 | -21.7 | -6.2 |
|
Stockmann Retail, international operations |
25.6 | -19.2 | -1,0 |
| Stockmann Retail, total | 97.7 | -21.0 | -5.6 |
| Lindex, total | 76.0 | 8.3 | 9.4 |
| Operations in Finland, total | 81.2 | -24.9 | -4.2 |
| International operations, total | 92.6 | -3.5 | 7.7 |
| Stockmann, total | 173.7 | -14.9 | 1.6 |
Sales (exclusive of VAT) in January-December
|
1-12/2015 EUR mill. |
Change-% | Change-%, continuing product and market areas* | |
| Stockmann Retail, Finland | 629.9 | -12.4 | -3.8 |
|
Stockmann Retail, international operations |
267.5 | -20.2 | -4.9 |
| Stockmann Retail, total | 897.4 | -14.9 | -4,0 |
| Lindex, total | 649.5 | 0.3 | 1.3 |
| Operations in Finland, total | 714.4 | -16.5 | -3.1 |
| International operations, total | 848.6 | -9.5 | 0.3 |
| Stockmann, total | 1 563.0 | -12.9 | -1.3 |
* Exclusive of 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).
Change-%: change compared with the corresponding period of the previous year.
Further information:
Lauri Veijalainen, CFO, tel. +358 9 121 5062
Nora Malin, Director, Corporate Communications, tel. +358 9 121 3558
www.stockmanngroup.com
STOCKMANN plc
Per Thelin
CEO
Distribution:
Nasdaq Helsinki
Principal media