Stockmann - Company Announcement

Lindex and Seppälä establish a new Fashion Chain Division within the Stockmann Group to accelerate growth

Helsinki, Finland, 2012-06-15 07:50 CEST (GLOBE NEWSWIRE) -- STOCKMANN plc,
Company Announcement 15.6.2012 at 8:50 EET 

The Stockmann Group is introducing a new organizational structure to accelerate
the growth of the Lindex and Seppälä fashion chains and to strengthen the
affordable fashion business. The new Fashion Chain Division includes all
current operations of Lindex and Seppälä and will support their strategic aim
of successful international expansion. 

Both the Lindex and Seppälä brands will be further developed according to their
unique brand identities while focusing on their core customer groups. The
Fashion Chain Division will take shared processes and support functions into
use to enable stronger cooperation between the chains and more cost-efficient
operations for both brands. There will be no material one-time costs related to
the changes. 

Mr Göran Bille has been appointed Director, Fashion Chain Division. He also
continues as the CEO of Lindex. Ms Nina Laine-Haaja continues as the CEO of
Seppälä and will report to Göran Bille. Nina Laine-Haaja will also be a member
of the Stockmann Group's management committee during the transition period
until the end of 2012. 

The new structure will bring more clarity for the Stockmann Group's two types
of retail business: department stores and fashion stores. The Group's operating
segments in financial reporting will be the Department Store Division
(Stockmann department stores, Hobby Hall, Academic Bookstore, Stockmann Beauty
as well as the Bestseller and Zara franchising stores) and the Fashion Chain
Division (the Lindex and Seppälä fashion chains). The new reporting structure
will be used in monthly revenue releases from June 2012 onwards and in the
interim report for January - June 2012, which will be published on 10 August
2012. 

In 2011, Lindex's revenue totalled EUR 624.1 million and operating profit EUR
41.2 million. Seppälä's revenue was EUR 143.8 million and operating profit was
EUR 1.4 million. In total the fashion chains made up 38 per cent of the
Stockmann Group's revenue and 55 per cent of the Group's operating profit in
2011. At the end of March 2012, Lindex had 451 stores in 14 countries and
Seppälä had 227 stores in 6 countries. 

Further information:
Hannu Penttilä, CEO, Stockmann, tel. +358 9 121 5801
Göran Bille, CEO, Lindex, tel. +46 31 739 5002
Nina Laine-Haaja, CEO, Seppälä, tel. +358 9 121 7280

www.stockmanngroup.fi


STOCKMANN plc

Hannu Penttilä
CEO


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