STOCKMANN plc STOCK EXCHANGE BULLETIN March 11, 2003, 12.30 p.m.
STOCKMANN GROUP'S SALES IN FEBRUARY 2003
In February the Stockmann Group's sales were up 9 per cent on the previous
year. Sales by the Vehicle Division continued the vigorous growth and
topped the sales in February 2002 by 31 per cent. The change in the
vehicle tax structure has boosted the demand and the order bookings for
new vehicles have increased markedly. The Department Store Division's
sales grew by 2 per cent while Hobby Hall's sales were on a par with the
previous year. After the strong growth in January, Seppälä's sales in
February were down 3 per cent on February 2002.
The Department Store Division's sales include sales by the Zara store
opened in April 2002 and sales by the two Stockmann Beauty stores opened
in the autumn. Weakening of the US dollar - the pricing currency in
Stockmann stores in Russia - against the euro has a reducing effect on the
euro-denominated sales growth of the Department Store Division despite the
clear growth in the dollar-denominated sales in Russia.