STOCKMANN GROUP'S SALES IN FEBRUARY 2004

STOCKMANN plc STOCK EXCHANGE RELEASE March 9, 2004, 15.30 p.m.

STOCKMANN GROUP'S SALES IN FEBRUARY 2004

In February, the Stockmann Group's sales were EUR 120.3 million or on a par with the previous year. 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-February 2003, this business was EUR 8.9 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 10 per cent. Sales by Seppälä were up 8 per cent. Sales by the Vehicle Division were down 10 per cent and sales by Hobby Hall declined by 13 per cent on the previous year. The sales growth of the international operations of the Department Store Division was substantially contributed by the Zara store opened in Moscow in February 2003 and the department store opened in Riga, Latvia, in October 2003. Seppälä started operations in Latvia in the autumn 2003. The sales development of the Vehicle Division in February was affected by especially the fact that in 2003 the Loyal Customer campaign for trade-in vehicles was carried out in February while this year it took place in January. The decrease in Hobby Hall's sales figures is due to the discontinuing of four stores last autumn and at the beginning of 2004 as well as the division's tighter credit policy in the Baltic markets.

Sales figures in January and January-February

January January-February January- December

20042003Ind.20042003Ind.2003
MeMe 04/03MeMe04/03Me
Department Store50.547.4107104.498.1106706.6
Division, Finland* Department Store 11.5 9.0 127 22.5 17.4 129 134.4 Division, international operations Department Store 62.0 56.4 110 126.9 115.6 110 841.0 Division, total*
Vehicle Division32.636.39078.474.0106480.4
Hobby Hall14.015.69028.831.292192.3
Division, Finland Hobby Hall 3.5 4.6 76 7.3 8.0 91 43.5 Division, international operations Hobby Hall 17.5 20.2 87 36.1 39.2 92 235.7 Division, total Seppälä Division, 7.3 7.0 106 18.2 16.9 108 120.3 Finland Seppälä Division, 0.8 0.6 142 1.9 1.4 131 10.0 international operations Seppälä Division, 8.2 7.6 108 20.1 18.3 110 130.3 total Real estate + 0.1 -0.1 0.1 0.1 0.9 others Operations in 104.5 106.2 98 229.9 220.4 104 1 500.6 Finland, total* International 15.8 14.2 111 31.7 26.9 118 187.8 operations, total Stockmann total* 120.3 120.4 100 261.6 247.2 106 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-February 2003, these sales stand for EUR 8.9 million, and as for the whole year 2003, for EUR 10.2 million. The consolidated sales growth regardless of this elimination was 2.2 per cent.

STOCKMANN plc

Hannu Penttilä CEO

DISTRIBUTION Helsinki Exchanges Principal media





Back