STOCKMANN GROUP'S SALES IN APRIL 2004

STOCKMANN plc STOCK EXCHANGE RELEASE May 10, 2004, at 16.00

STOCKMANN GROUP'S SALES IN APRIL 2004

In April, the Stockmann Group's sales were down 3 per cent and amounted to EUR 146.9 million. The divisions' sales development turned out quite heterogenous. Sales by the Department Store Division were up 4 per cent. Sales in Finland were down 1 per cent on the previous year due to the fact that the first day of the extremely successful Crazy Days campaign was, unlike last year, already in March. The effect of the campaign timing on the Department Store Division's sales in Finland in April is about 12 percentage points. The division's sales abroad grew by 32 per cent. The sales growth was contributed by the department stores opened in Riga, Latvia, in October 2003 and in Moscow's Mega South shopping centre on April 17, 2004. Sales by the Vehicle Division were down 18 per cent on the April 2003 sales, which were exceptionally high (increase 43 per cent) as they included large deliveries to car rental companies. Hobby Hall's sales were down 2 per cent on the previous year. The previously discontinued four stores' effect on the monthly sales is about 9 percentage points. Nevertheless, Hobby Hall's sales in Finland were on a par with the previous year and grew in Estonia. The division's sales in Latvia and Lithuania were down due to the tightened-up credit policy. Sales by Seppälä remained excellent and were up 21 per cent. The sales grew clearly both in Finland and abroad. Seppälä's sales abroad were increased by the four stores opened in Riga in the autumn 2003 and the store opened in Moscow on April 17.

Sales figures in April and in January-April

April January-April January- December

20042003Ind.20042003Ind.2003
MeMe 04/03MeMe04/03Me
Department Store63.864.599228.0210.9108706.7
Division, Finland* Department Store 15.3 11.5 132 50.7 39.6 128 134.4 Division, international operations Department Store 79.1 76.1 104 278.7 250.6 111 841.0 Division, total*
Vehicle Division40.849.582158.7162.798480.4
Hobby Hall14.114.110060.160.499192.3
Division, Finland Hobby Hall 2.7 3.0 88 13.3 14.5 92 43.5 Division, international operations Hobby Hall 16.8 17.1 98 73.4 74.9 98 235.7 Division, total Seppälä Division, 9.1 7.8 117 35.1 32.0 110 120.3 Finland Seppälä Division, 1.0 0.5 187 3.7 2.6 144 10.0 international operations Seppälä Division, 10.1 8.4 121 38.8 34.6 112 130.3 total Real estate + 0.1 0.1 113 0.3 0.3 100 0.9 others Operations in 128.0 136.0 94 482.1 466.4 103 1 500.6 Finland, total* International 19.0 15.1 125 67.8 56.7 119 187.8 operations, total Stockmann total* 146.9 151.1 97 549.9 523.1 105 1 688.4

* The agency sales of newspaper and magazine subscriptions that were divested in May have been eliminated from the sales figures for 2003. As for January-April 2003, these sales stand for EUR 9.9 million, and as for the whole year 2003, for EUR 10.2 million. The consolidated sales growth regardless of this elimination was 3 per cent.

STOCKMANN plc

Hannu Penttilä CEO

DISTRIBUTION Helsinki Exchanges Principal media





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