Stockmann down 10.3 percent – suffered from heat and week rouble

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The Stockmann Group’s sales amounted to 106.0 million EUR in August 2015. Unusually warm weather affected sales in both Stockmann Retail and Lindex.
At comparable exchange rates, sales excluding Seppälä were down by 10.3 per cent. The Russian rouble weakened in August by 52.3 percent compared on the previous year. As a result, euro-denominated sales excluding Seppälä were down by 15.9 percent.


Stockmann Retail’s sales were down by 14.5 percent at comparable exchange rates. Due to the weak Russian rouble, euro-denominated sales were down by 20.8 percent.

In Finland, sales were down by 17.4 percent. The decline was partly due to withdrawing from the own electronics product category. Excluding electronics, department stores’ sales were down 10 percent. Despite the decline, sales in women’s, men’s and children’s fashion were above the general fashion market development in Finland.

In international operations, sales were down by 5.9 percent at comparable exchange rates. In the Baltic countries, sales declined, but in Russia, sales in rouble were on a par with the previous year. Due to the significantly weaker Russian rouble, euro-denominated sales were down by 28.5 percent.

Lindex’s sales were down by 6.4 percent at comparable exchange rates. The warm weather had a clear impact on the sales in the main markets. However, Lindex’s sales developed better than the general clothing market in Sweden. Euro-denominated sales were down by 9.9 per cent.

 

In international operations, sales were down by 5.9 per cent at comparable exchange rates. In the Baltic countries, sales declined, but in Russia, sales in rouble were on a par with the previous year. Due to the significantly weaker Russian rouble, euro-denominated sales were down by 28.5 per cent.
Lindex’s sales were down by 6.4 per cent at comparable exchange rates. The warm weather had a clear impact on the sales in the main markets. However, Lindex’s sales developed better than the general clothing market in Sweden. Euro-denominated sales were down by 9.9 per cent.