Stockmann Group's sales in March and the Crazy Days campaign in April 2016

STOCKMANN plc, Company Announcement 12.4.2016 at 16:00 EET

The Stockmann Group's sales in March were down by 26.9 per cent and amounted to EUR 84.0 million in the continuing product areas and businesses. The change percentage is not comparable, as the decline was due to the timing of the Crazy Days campaign in Finland. This year the campaign was held in April, instead of late March as in the previous year. During the first three weeks in March, the Group's comparable sales were on a par with 2015.

”Lindex continued its solid performance and grew particularly well in its main market of Sweden in March. In comparable terms, Stockmann’s department store sales turned into a more positive direction. The sales during the first three weeks of the month grew in fashion, cosmetics and home products. The same product areas had also a positive sales trend during the Crazy Days campaign which continues to attract customers and reached over one million customer transactions during the five sales days. Due to the different timings of the campaign between 2015 and 2016, the sales figure for the total month is not comparable”, says Stockmann’s interim CEO Lauri Veijalainen.

Sales by division in March

Stockmann Retail's sales in the continuing product areas and businesses were down by 46.2 per cent in March and down by 1.1 per cent during the first three weeks of the month. In Finland, sales were down by 50.9 per cent due to timing of the Crazy Days campaign. Sales in the first three weeks of March were down by 1.6 per cent. In the Baltic countries, where the campaign took place in April in both years, the sales were down by 1.4 per cent.

Lindex's sales were on a par with the previous year at comparable exchange rates. Easter had a somewhat negative effect on sales, but despite this, sales increased in Sweden, Estonia and Latvia. Euro-denominated sales were down by 2.5 per cent, or up 1.9 per cent excluding Russia.

Crazy Days campaign in April

The Crazy Days campaign was held in the Stockmann department stores and online store on 6–10 April 2016. The comparable campaign sales were down by 3 per cent. Sales were down by 3 per cent in Finland, and down by 1 per cent in the Baltic countries. Campaign sales increased in fashion and cosmetics, but decreased in food. Sales in the online store were up significantly compared with the previous year.

Sales (exclusive of VAT) in March

EUR mill.
Change-%* 1-3/2016
EUR mill.
Stockmann Retail, Finland 30.6 -50.9 92.9 -29.7
Stockmann Retail,
international operations
6.5 -1.4 18.9 -5.3
Stockmann Retail, total 37.0 -46.2 111.9 -26.5
Lindex, total 47.0 1.9 129.2 4.9
Group, Finland, total 35.2 -47.5 106.7 -27.2
Group, international operations, total 48.7 1.9 134.4 4.2
Stockmann Group, total* 84.0 -26.9 241.1 -12.5

*Continuing product areas and businesses i.e. excluding Russian retail operations, Seppälä, Hobby Hall, Stockmann Beauty, the airport store and the product areas the company has withdrawn from in department stores (electronics, books, sports equipment, toys and pet supplies).

Stockmann’s total sales in March 2016 were EUR 90.3 million, including Hobby Hall. In March 2015, sales were EUR 150.0 million, including also Russian retail operations, Seppälä and discontinued product areas in department stores.

Change-%: change compared with the corresponding period of the previous year. The Group's sales figures include merchandise sales exclusive VAT in stores and department stores. The figures do not include other operating income such as rental income or service fees.

Further information:
Lauri Veijalainen, Interim CEO, tel. +358 9 121 5062
Nora Malin, Director, Corporate Communications, tel. +358 9 121 3558


Nora Malin
Director, Corporate Communications

Nasdaq Helsinki
Principal media