SWEDEN: Fashion Chain Lindex Enjoying Solid 2002
The operator of nearly 350 stores in Sweden, Norway, Finland and Germany said same-store sales climbed 1.3 per cent and improvements to its supply chain boosted its gross margin to 55.7 per cent from 50.2 per cent.
But it said same-store sales at its 35 German outlets fell 8.2 per cent in the period in a "highly competitive market".
"Germany is a highly competitive market. We need to have a clear concept in order to compete with our rivals in the country," said CEO Jorgen Johansson.
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