Stockmann - Company Announcement

Stockmann has completed the Academic Bookstore transaction

Helsinki, Finland, 2015-09-30 13:30 CEST (GLOBE NEWSWIRE) -- STOCKMANN plc,
Company Announcement 30.9.2015 at 14:30 EET 

Stockmann has completed the sale of the Academic Bookstore business to the
Swedish media company Bonnier Books AB. Withdrawal from the book business is
part of Stockmann's strategy to focus on its core product categories of
fashion, cosmetics, food and home products. 

The transaction was completed according to the letter of intent which was
announced on 18 June 2015. Bonnier will continue the Academic Bookstore
business in Stockmann's Book Building in the Helsinki city centre and in other
Stockmann department stores in Finland, except in Oulu. 

The transaction has been approved by the Finnish Competition and Consumer
Authority, and the transfer of business will take place on 1 October 2015. 

Due to the transaction, Stockmann will record a non-recurring item of
approximately EUR -3.2 million related to inventories and non-current assets
for the third quarter of 2015. The book inventories on the closing date are
higher than earlier estimated. 

The Academic Bookstore's revenue in 2014 was EUR 40.6 million, which was 4 per
cent of Stockmann Retail's total revenue. 

Further information:
Tove Westermarck, Development Director, tel. +358 9 121 5718
Nora Malin, Director, Corporate Communications, tel. +358 9 121 3558

www.stockmanngroup.com


STOCKMANN plc

Per Thelin
CEO


Distribution:
Nasdaq Helsinki
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