Profit warning: Stockmann Group’s revised guidance for 2019
STOCKMANN plc, Inside Information 24.4.2019 at 8:00 EET
The Stockmann Group’s profit guidance for the year has been revised due to the weakened outlook of Stockmann Retail for the rest of the year. Stockmann now estimates the Group’s adjusted operating profit, excluding Nevsky Centre but including the positive impact of IFRS 16 (approximately EUR 15 million), to be on a par with 2018 (EUR 10.4 million). Lindex is estimated to continue its steady performance. Stockmann Retail is not expected to improve its full-year operating result due to the on-going transformation process.
Updated guidance for 2019:
Stockmann expects the Group’s adjusted operating profit, excluding Nevsky Centre but including the impact of IFRS 16, to be on a par with 2018.
Previous guidance for 2019 (published on 14 February 2019):
Stockmann expects the Group’s adjusted operating profit, excluding the impact of Nevsky Centre, to improve compared to 2018.
Stockmann will publish its Interim report for January–March 2019 on 30 April 2019.
Kai Laitinen, CFO, tel. +358 9 121 5800
Chairman of the Board of Directors