STOCKMANN GROUP'S SALES IN MARCH 2004

STOCKMANN plc STOCK EXCHANGE RELEASE April 7, 2004, at 12.00

STOCKMANN GROUP'S SALES IN MARCH 2004

In March, the Stockmann Group's sales were up 13 per cent and amounted to over EUR 141 million. The agency sales of magazine and newspaper subscriptions which were disposed of at the end of May 2003 have been eliminated from the Group's comparison figures. In January-March 2003, this business was EUR 9.5 million. The main part of the subscription agency sales piled up in January-February 2003, so its effect on the comparison figures for the Group sales is going to decrease in the course of the year. A corresponding elimination has been made from the comparison figure for the Department Store Division.

The best growth was reported by the Department Store Division whose sales were up 23 per cent. Sales by the rest of the divisions were as follows: Hobby Hall up 10 per cent, Seppälä up 8 per cent and the Vehicle Division up 1 per cent. The March sales growth of the Department Store Division in Finland was contributed by the fact that the first day of the Crazy Days campaign was, unlike last year, already in March. The campaign was once again a huge success. The effect of the campaign timing on the Department Store Division's sales growth in March in Finland is about 15 percentage points. The sales growth of the international operations of the Department Store Division was contributed by the department store opened in Riga, Latvia, in October 2003. Seppälä started operations in Latvia in the autumn 2003. The discontinuing of four stores last autumn and at the beginning of 2004 has affected Hobby Hall's sales figures.

Sales figures in March and in January-March

March January-March January- December

20042003Ind.20042003Ind.2003
MeMe 04/03MeMe04/03Me
Department Store59.748.3124164.2146.4112706.7
Division, Finland* Department Store 12.9 10.7 121 35.5 28.1 126 134.4 Division, international operations Department Store 72.7 58.9 123 199.6 174.5 114 841.0 Division, total*
Vehicle Division39.539.2101117.9113.2104480.4
Hobby Hall17.215.211446.046.499192.3
Division, Finland Hobby Hall 3.3 3.4 96 10.6 11.5 93 43.5 Division, international operations Hobby Hall 20.5 18.6 110 56.6 57.8 98 235.7 Division, total Seppälä Division, 7.7 7.3 105 25.9 24.2 107 120.3 Finland Seppälä Division, 0.8 0.6 137 2.7 2.0 133 10.0 international operations Seppälä Division, 8.6 7.9 108 28.6 26.2 109 130.3 total Real estate + 0.0 0.1 64 0.2 0.2 94 0.9 others Operations in 124.2 110.0 113 354.1 330.4 107 1 500.6 Finland, total* International 17.1 14.7 116 48.8 41.6 117 187.8 operations, total Stockmann total* 141.3 124.7 113 402.9 372.0 108 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-March 2003, these sales stand for EUR 9.5 million, and as for the whole year 2003, for EUR 10.2 million. The consolidated sales growth regardless of this elimination was 6 per cent.

STOCKMANN plc

Hannu Penttilä CEO

DISTRIBUTION Helsinki Exchanges Principal media





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