The Stockmann Group's Revenue Was Down 4.7 % and Amounted to Eur 141.1 Million in March

The Stockmann Group’s revenue was down 4.7 per cent on the previous year and amounted to EUR 141.1 million in March 2014. The decline was due to currency exchange rates, as the Russian rouble reached its weakest level ever against the euro and also Swedish krona and Norwegian krone were clearly weaker than a year ago. Revenue at comparable exchange rates was up 0.4 per cent.

The Department Store Division’s revenue was down 5.5 per cent. Revenue was down 2.6 per cent in Finland and 11.5 per cent in international operations. Revenue was up in the Baltic department stores, but in Russia revenue continued to decline due to the weakened rouble.

The Fashion Chain Division’s revenue decreased by 3.6 per cent; down 1.8 per cent in Finland and down 4.0 per cent in international operations. Lindex’s euro-denominated revenue was down 2.4 per cent. At comparable exchange rates revenue was up by 4.0 per cent. Seppälä’s revenue was down 11.7 per cent, particularly in Russia due to closed stores and the weak rouble.