Stockmann news and archive

Stockmann to sell, lease back properties in restructuring plan

Finnish fashion group Stockmann has announced it will sell and lease back department store properties in its portfolio as part of its restructuring plan. The company announced Monday that its restructuring programme is based on the continuation of its department store operations and the sale and lease-back of department store properties located...

Business

Lindex owner Stockmann reports improved performance in Q3

Finnish fashion group Stockmann has reported improved trading in the third quarter amid the company’s ongoing cost-cutting strategy. For the three months to 30 September, the group reported an operating profit of 11.7 million euros compared to a profit of 2.1 million euros a year earlier. Consolidated revenue at the company fell 6.8 percent to...

Business

Stockmann-owned Lindex to launch cost-cutting programme, cut jobs

Stockmann-owned Lindex has announced cost-cutting measures and jobs cuts following a drop in Q2 revenue. The Swedish fashion chain will aim to reduce its costs globally by approximately 14.5 million euros, which it said will mainly be realized from 2021 onwards. “The savings will be achieved, among other things, by optimizing Lindex’s store...

Business

Lindex owner Stockmann swings to half-year loss following store closures

Finnish fashion group Stockmann has reported a half-year loss following store closures tied to the Covid-19 pandemic. The company reported a loss of 3.1 million euros, compared to a profit of 10.2 million euros for the first half of last year. Its revenue for the period was 182.7 million euros, down 23.2 percent from last year. However, the...

BusinessFeatured

Lindex owner Stockmaan files for corporate restructuring

Finnish fashion group Stockmann is filing for corporate restructuring after experiencing a “significant” impact from the Covid-19 pandemic. The group, which owns Swedish fashion chain Lindex, said it has made “continued strong growth” on its online stores since the beginning of March, but that has not been enough to offset a “drastic decline” in...

Retail

Finnish department store launches gender-neutral floor

Helsinki store Stockmann, the largest department store in Finland, has launched a gender-neutral shopping floor concept called One Way. Located between the men’s and women’s departments, on floor 1.5, the new gender-neutral department will feature brands including Acne Studios, Calvin Klein, and Merrimekko, which have previously incorporated...