Russian rouble made Stockmann sales drop 13.1% in November

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There is no Per Thelin-effect yet. Stockmann’s doing better outside Finland  – but the Russian exchange rate makes the Department store revenues look worse.

Still, Stockmann’s Finnish department stores lost 13.7 percent of their sales in November. And Lindex and Seppälä had a tough month.

The Stockmann Group’s revenue was down 13.1 per cent on the previous year and amounted to 137.6 million EUR  in November 2014.

The decline was partly due to currency effects, mainly the Russian rouble, which weakened 30 percent on the previous year compared to the euro. Revenue at comparable exchange rates was down 8.9 per cent.

The Department Store Division’s revenue was nearly on a par with the previous year in the Baltic countries and in Russia in rouble. Due to the very weak exchange rate of the rouble, euro-denominated revenue was down in Russia. The division’s total euro-denominated revenue decreased by 14.7 per cent; down 13.7 per cent in Finland and 17.2 per cent in international operations.

Lindex’s revenue was down 4.9 per cent at comparable exchange rates or 9.2 per cent in euro-denominated revenue. Seppälä’s revenue was down 19.5 per cent or down 8.9 per cent in comparable stores, excluding the closed 30 stores during the past 12 months. The Fashion Chain Division’s total revenue decreased by 10.4 per cent; down 8.2 per cent in Finland and 10.9 per cent in international operations.

 

Stockmann Group Revenue (exclusive of VAT) in November

11/2014
EUR mill.
Change-%
Department Store Division, Finland 59.8 -13.7
Department Store Division,
international operations
23.8 -17.2
Department Store Division, total 83.5 -14.7
Fashion Chain Division, Finland 9.6 -8.2
Fashion Chain Division,
international operations
44.4 -10.9
Fashion Chain Division, total 54.0 -10.4
Unallocated 0.0
Operations in Finland, total 69.4 -12.9
International operations, total 68.2 -13.2
Stockmann total 137.6 -13.1

 

 

Revenue (exclusive of VAT) in January-November

1-11/2014
EUR mill.
Change-%
excl. terminated franchising*
Change-%
Department Store Division, Finland 651.5 -10.5 -10.9
Department Store Division,
international operations
322.0 -10.1 -10.1
Department Store Division, total 973.6 -10.4 -10.6
Fashion Chain Division, Finland 120.6 -9.1 -9.1
Fashion Chain Division,
international operations
541.9 -7.2 -7.2
Fashion Chain Division, total 662.5 -7.6 -7.6
Unallocated 0.2
Operations in Finland, total 772.3 -10.2 -10.5
International operations, total 864.0 -8.3 -8.3
Stockmann total 1 636.3 -9.2 -9.4

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.