Online sales are Stockmann’s only growth

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Updated: Stockmann Group has had a tough year, declining sales and negative currency effects gives significant  declines in all divisions.

But there is also growth, online. And Lindex was on par in local currencies.

The Stockmann Group’s preliminary revenue was down 11.6 per cent on the previous year and amounted to EUR 205.0 million in December 2014. The decline was mainly due to currency effects, mainly the Russian rouble, which weakened 55 per cent on the previous year compared to the euro. Revenue at comparable exchange rates was down 5.2 per cent.

The Department Store Division’s revenue was up 20 per cent on the previous year in Russia in rouble. Due to the very weak exchange rate of the rouble, euro-denominated revenue was down 24 per cent in Russia. In Finland and in the Baltic countries, Christmas sales were below the level for 2013 in all units except the Stockmann online store. The division’s total euro-denominated revenue decreased by 11.4 per cent; down 8.2 per cent in Finland and 19.4 per cent in international operations.

Lindex’s revenue in local currencies was on a par with the previous year or down 5.7 per cent in euro-denominated revenue. Seppälä’s revenue was down 24.1 per cent or down 13.1 per cent in comparable stores, excluding the closed 33 stores in 2014. The Fashion Chain Division’s total revenue decreased by 8.4 percent; down 10.2 per cent in Finland and 8.0 percent in international operations.

The Stockmann Group’s preliminary revenue for the full year 2014 amounted to EUR 1 841.3 million. Revenue was down 9.5 per cent on the previous year, or down 5.6 per cent at comparable exchange rates.

The Department Store Division’s revenue was down 10.5 per cent. Revenue was up in the Baltic countries and in local currency in the Russian department stores, but euro-denominated revenue in international operations was down 11.0 per cent. Revenue was down 10.2 per cent in Finland.

Lindex’s revenue in local currencies was on a par with the previous year or down 5.8 per cent in euro-denominated revenue. Seppälä’s revenue was down 21.3 per cent. The Fashion Chain Division’s revenue was down 8.1 per cent; down 9.3 per cent in Finland and down 7.8 per cent in international operations.

Stockmann corrected Lindex numbers later on Friday.

Revenue (exclusive of VAT) in December

12/2014
EUR mill.
Change-%
Department Store Division, Finland 94.0 -8.2
Department Store Division,
international operations
33.0 -19.4
Department Store Division, total 127.0 -11.4
Fashion Chain Division, Finland 16.0 -10.2
Fashion Chain Division,
international operations
65.1 -8.0
Fashion Chain Division, total 81.1 -8.4
Unallocated 0.0
Operations in Finland, total 110.0 -8.4
International operations, total 98.1 -12.2
Stockmann total 208.1 -10.2

Revenue (exclusive of VAT) in January-December

1-12/2014
EUR mill.
Change-%
excl. terminated franchising*
Change-%
Department Store Division, Finland 745.5 -10.2 -10.6
Department Store Division,
international operations
355.1 -11.0 -11.0
Department Store Division, total 1 100.6 -10.5 -10.7
Fashion Chain Division, Finland 136.5 -9.3 -9.3
Fashion Chain Division,
international operations
607.1 -7.3 -7.3
Fashion Chain Division, total 743.6 -7.7 -7.7
Unallocated 0.3
Operations in Finland, total 882.3 -10.0 -10.3
International operations, total 962.1 -8.7 -8.7
Stockmann total 1 844.5 -9.3 -9.5

Change-%: change compared with the corresponding period of the previous year.
*Change compared with the revenue excluding the Zara franchising operations in Finland which were terminated on 1 March 2013.