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
From toxic T-shirts to virtual fitting rooms, defamatory garments and compostable shoes, the clothing and textiles industry in 2012 was anything but dull....
Textile-making countries came up against a range of labour, economic and environmental issues in 2012, including the worsening Eurozone crisis which dampened demand in key export markets. While some s...
Weak consumer spending, difficulties in securing credit, competition from China and the Far East resulted in factory closures and subsequent layoffs in 2012. But ramping up labour and sustainability s...
Levi Strauss, the world's largest jeans manufacturer, has pledged to phase out hazardous chemicals from its supply chain by 2020, following pressure from environmental group Greenpeace....
Campaigners are ramping up the pressure on retailers and importers sourcing apparel from Cambodia to tackle what they describe as the "poverty wages" of the country's garment workers....
Spanish clothing giant Inditex, which operates the Zara fashion chain, has booked a 27% jump in profit in the first nine months of its financial year, helped by international expansion....
South Korean apparel conglomerate E-Land Group has set its sights on annual sales of KRW10tn (US$9.32bn) in China by 2016, according to local press reports....
Spanish retail giant Inditex is reshuffling executives at its Italian and UK operations as current UK boss Dilip Patel heads to the US....
- Expensive US dollar hitting H&M sourcing costs
- Enthusiasm for tech in outdoor apparel on rise
- 2015: Welcome to the new fashion consumer
- Apparel industry gains traction says IAF chief
- Outlook 2015: What's happening with sourcing?
- Kanati pulls production out of Pakistan
- Gap to close Piperlime division
- Hanesbrands invests $1.5m in US hosiery plant
- US takes final step to WTO TFA implementation
- EU exploring responsible garment supply chains
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Outdoor performance apparel: peaks, valleys, and green fields
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Li & Fung Limited (494) - Financial and Strategic SWOT Analysis Review
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead