FINLAND: Stockmann posts 5.6% June sales increase
Finnish fashion and department store retailer Stockmann Group has seen its sales rise 5.6% to EUR164.7m (US$203m) in the month of June, with gains across both its divisions.
Revenues in its Department Store division grew by 7.2%, with a rise of 4.7% in Finland and 13.4% in its international stores, led by the Baltic countries. The company has 16 department stores including the Hobby Hall, Academic Bookstore, Stockmann Beauty and the Bestseller and Zara franchises.
In its Fashion Chain unit, which consists of 451 Lindex stores, revenue grew by 3.6% in the month, with flat sales in Finland offset by a 4.7% rise in international operations. Growth remained strongest in Lindex's new markets in eastern Central Europe and Russia.
Stockmann Group's revenue in June 2012
The Stockmann Group's revenue in June increased by 5.6 per cent and was EUR 164.7 million. The Department Store Division's revenue grew by 7.2 per cent. Revenue was up 4.7 per cent in Finland and up 13.4 per cent in international operations. Department stores in the Baltic countries performed particularly well. The euro-denominated revenue in Russia increased by 15.0 per cent in the department stores and by 9.6 per cent in total, when including the Bestseller franchising stores which will be closed down by the end of 2012. The Fashion Chain Division's revenue grew by 3.6 percent. The revenue was on a par with the previous year in Finland and up 4.7 per cent in international operations. Lindex's euro-denominated revenue was up 6.2 per cent thanks to growth in all markets. Seppälä's revenue was down 6.5 per cent due to weak sales in Finland and in particular in Russia. Both fashion chains performed well in the Baltic countries. Growth remained strongest in Lindex's new markets in eastern Central Europe and Russia.
Original source: http://www.stockmanngroup.fi/en/news-releases/-/stock/8Zb6/showDisclosure/489650/Stockmann%2BGroup%2527s%2Brevenue%2Bin%2BJune%2B2012;jsessionid=45548B67DCFECF8878516FC3F72AD4D0
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