STOCKMANN GROUP'S SALES IN SEPTEMBER 2004

STOCKMANN plc STOCK EXCHANGE RELEASE October 11, 2004, at 14.00

STOCKMANN GROUP'S SALES IN SEPTEMBER 2004

Strong growth continues in Seppälä and the Department Store Division

In September, the Stockmann Group's sales amounted to EUR 140.7 million, up one per cent on the previous year. The strong sales growth continued in Seppälä and the Department Store Division, whereas sales by Hobby Hall and the Vehicle Division were down due to downsized operations in these divisions. Sales by Seppälä were up 20 per cent, the growth being 16 per cent in Finland and 56 per cent abroad. Sales by the Department Store Division were up 12 per cent. The growth was 5 per cent in Finland and 53 per cent abroad. The new retail units in Latvia and Russia have contributed to the strong growth abroad both for Seppälä and the Department Store Division.

Sales by Hobby Hall were down 6 per cent on the previous year. Sales were down 4 per cent in Finland and 12 per cent abroad. The September sales came out according to expectations and distance retail in Finland grew. The decrease in sales was attributable to the reduced number of stores and the tightened-up credit policy in the Baltic countries. Sales by the Vehicle Division were down 20 per cent on the previous year. The whole decrease is due to the transfer of the Volkswagen-Audi car dealership in Herttoniemi, Helsinki, to Kesko's subsidiary on July 1, 2004. In 2003, this car dealership accounted for about 22 per cent of the Vehicle Division's total sales. The same-store sales by the Vehicle Division in September were up 6 per cent.

Sales figures in September and in January-September

September January-September January- December

20042003Ind.20042003Ind.2003
MeMe 04/03MeMe04/03Me
Department Store60.257.6105503.0476.5106706.7
Division, Finland* Department Store 17.4 11.4 153 125.7 88.3 142 134.4 Division, international operations Department Store 77.6 69.0 112 628.7 564.8 111 841.0 Division, total*
Vehicle Division30.237.780339.8365.593480.4
Hobby Hall17.718.596125.0135.392192.3
Division, Finland Hobby Hall 3.9 4.5 88 24.8 30.3 82 43.5 Division, international operations Hobby Hall 21.6 22.9 94 149.8 165.7 90 235.7 Division, total Seppälä Division, 9.9 8.5 116 89.8 82.8 108 120.3 Finland Seppälä Division, 1.3 0.8 156 10.5 6.5 162 10.0 international operations Seppälä Division, 11.2 9.3 120 100.2 89.3 112 130.3 total Real estate + 0.1 0.1 0.7 0.6 0.9 others Operations in 118.1 122.3 97 1 058.2 1 060.8 100 1 500.6 Finland, total* International 22.6 16.7 136 161.0 125.1 129 187.8 operations, total Stockmann total* 140.7 139.0 101 1 219.2 1 185.9 103 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. These sales stand for EUR 10.2 million for the whole year 2003. The consolidated sales growth regardless of this elimination was 2 per cent.

STOCKMANN plc

Hannu Penttilä CEO

DISTRIBUTION Helsinki Exchanges Principal media





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