Stockmann Group's revenue in November 2013

Helsinki, Finland, 2013-12-13 09:00 CET (GLOBE NEWSWIRE) -- STOCKMANN plc, Company Announcement 13.12.2013 at 10:00 EET

The Stockmann Group’s revenue amounted to EUR 158.2 million in November 2013. Excluding the terminated franchising operations in Russia and Finland, revenue was down 4.5 per cent on the previous year.

The Department Store Division’s revenue was down 5.2 per cent, if the terminated franchising operations are excluded. In Finland revenue was down 5.0 per cent with decline in department stores and Hobby Hall but growth in the Stockmann online store. Euro-denominated revenue in international operations was down 5.7 per cent due to the weakened Russian rouble. Revenue was up in the Baltic countries and in local currency on a par with the previous year in Russia.

The Fashion Chain Division’s revenue was down 3.1 per cent; down 14.2 per cent in Finland and down 0.4 per cent in international operations. Lindex’s euro-denominated revenue was up 1.8 per cent despite the weakened Norwegian and Swedish currencies. Revenue in local currencies was up 7.6 per cent with growth in all countries. Seppälä’s revenue was down 29.0 per cent, partly due to several closed stores during the past 12 months. There are several actions under way to improve Seppälä’s weak performance, including closing of additional stores in Russia. Eveliina Melentjeff, earlier Lindex country manager for Finland and the Baltics, started as the CEO of Seppälä on 1 December 2013.


Revenue (exclusive of VAT) in November

  11/2013
EUR mill.
Change-%
excl. terminated

franchising*
Change
%
Department Store Division, Finland 69.3 -5.0 -7.2
Department Store Division,
international operations
28.7 -5.7 -7.6
Department Store Division, total 98.0 -5.2 -7.4
Fashion Chain Division, Finland 10.5 -14.2 -14.2
Fashion Chain Division,
international operations
49.8 -0.4 -0.4
Fashion Chain Division, total 60.3 -3.1 -3.1
Unallocated 0.0    
Operations in Finland, total 79.7 -6.4 -8.3
International operations, total 78.5 -2.5 -3.2
Stockmann total 158.2 -4.5 -5.8


Revenue (exclusive of VAT) in January–November

  1-11/2013
EUR mill.
Change-%
excl. terminated

franchising*
Change
%
Department Store Division, Finland 731.1 -3.0 -5.1
Department Store Division,
international operations
358.1 -1.3 -4.1
Department Store Division, total 1 089.2 -2.4 -4.8
Fashion Chain Division, Finland 132.7 -10.2 -10.2
Fashion Chain Division,
international operations
584.0 1.7 1.7
Fashion Chain Division, total 716.7 -0.8 -0.8
Unallocated -0.7    
Operations in Finland, total 863.1 -4.3 -6.1
International operations, total 942.1 0.5 -0.6
Stockmann total 1 805.2 -1.8 -3.3


Change-%: change compared with the corresponding period of the previous year.
*Change compared with the revenue excluding the terminated Bestseller franchising operations in Russia in 2012 and the Zara franchising operations in Finland in spring 2013.

Further information:
Hannu Penttilä, CEO, tel. +358 9 121 5801
Pekka Vähähyyppä, CFO, tel. +358 9 121 3351


www.stockmanngroup.com


STOCKMANN plc

Hannu Penttilä
CEO


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