Stockmann's outlook for 2020

Financial Statements Bulletin 2019, published 13.2.2020:

We expect that the uncertainties in the global economy will remain during 2020. In 2020, the GDP in Stockmann’s main markets is expected to show moderate growth. We expect the retail market to remain challenging due changes in consumer behavior and increasing competition, and moderate consumer confidence indicator.

The rejuvenation programme in Stockmann will continue throughout 2020. Lindex will continue to drive efficiencies and explore new growth opportunities. Stockmann expects the Group’s operating profit to improve clearly in 2020 (2019: EUR 13.3 million).

Capital investment projects will be reviewed and decided throughout the year, the total planned capital expenditure amounts to approximately EUR 45 million.