Stockmann - Company Announcement

STOCKMANN GROUP'S REVENUE IN DECEMBER 2010 AND PRELIMINARY INFORMATION ON 2010 RESULTS

FULL-YEAR OPERATING PROFIT IMPROVES BUT IS BELOW EARLIER ESTIMATE

Helsinki, Finland, 2011-01-12 08:00 CET (GLOBE NEWSWIRE) -- STOCKMANN plc,
Company Announcement 12.1.2011 at 9.00 EET 

STOCKMANN GROUP'S REVENUE IN DECEMBER 2010 AND PRELIMINARY INFORMATION ON 2010
RESULTS; FULL-YEAR OPERATING PROFIT IMPROVES BUT IS BELOW EARLIER ESTIMATE 

The Stockmann Group's preliminary revenue in December 2010 increased by 11.1
per cent to EUR 228.6 million. The Department Store Division's revenue
increased by 14.5 per cent; up 7.5 per cent in Finland and up 41.4 per cent
abroad. Revenue increased in all markets but the growth was strongest in
Russia, where the Department Store Division's euro-denominated revenue
increased by 59.8 per cent. Sales have started well in the new St Petersburg
department store in Stockmann's Nevsky Centre shopping centre, opened in
mid-November, and contributed substantially to the sales growth in Russia. 

Lindex's euro-denominated revenue increased by 7.6 per cent; down 3.3 per cent
in Finland and up 9.1 per cent abroad. The increase in the euro-denominated
revenue abroad was attributable to the strengthened Swedish krona and Norwegian
krone as well as to favourable growth in the new markets in Russia, the Czech
Republic and Slovakia. Calculated in local currencies, the revenue was down in
Sweden and Norway by a total of 2.8 per cent. 

Seppälä's revenue was down 1.2 percent. Revenue was down 6.0 per cent in
Finland and up 12.6 per cent abroad. Revenue increased in all markets abroad
but the most significant increase in sales volume was reached in Russia, where
Seppälä's revenue was up 18.6 per cent. 

The Stockmann Group's preliminary revenue, exclusive of Hobby Hall's
discontinued operations abroad, for the full year 2010 increased by 8.0 per
cent to EUR 1 823.2 million. Revenue came close to the 2008 figure, before the
global financial crisis. Revenue was up 7.8 per cent in the Department Store
Division, 9.8 per cent in Lindex, and 2.6 per cent in Seppälä. 

Sales volumes of Lindex and Seppälä in the last quarter of 2010 and during the
holiday sales were lower than had been estimated. Sales for the Department
Store Division developed as expected. According to the preliminary figures, the
Department Store Division and Seppälä will improve their full-year operating
profit compared with 2009. Lindex's operating profit, on the other hand, will
fall behind the excellent result of 2009 due to its performance in the last
quarter of the year. 

The Stockmann Group's operating profit for the full year will improve compared
to 2009, but due to the fourth-quarter performance, it will not reach the 15-30
per cent year-on-year growth assessment specified in the January-September
Interim Report. 

Stockmann will publish its financial statement bulletin on 10 February 2011 at
8 a.m. EET. 



Revenue (exclusive of VAT) in December



                                               12/2010  Change  1-12/201  Change
                                                                       0        
                                                   EUR       %       EUR       %
                                                 mill.             mill.        
--------------------------------------------------------------------------------
Department Store Division, Finland               108.4     7.5     826.5     5.2
Department Store Division, international          36.8    41.4     274.9    16.6
operations                         
Department Store Division, total                 145.3    14.5   1 101.3     7.8
Lindex, Finland                                    7.3    -3.3      66.8     1.7
Lindex, international operations                  59.8     9.1     511.8    10.9
Lindex, total                                     67.2     7.6     578.6     9.8
Seppälä, Finland                                  11.4    -6.0      94.4     0.0
Seppälä, international operations                  4.7    12.6      48.8     8.1
Seppälä, total                                    16.2    -1.2     143.2     2.6
Real estate + others                               0.0               0.0        
Operations in Finland, total                     127.2     5.4     987.7     4.4
International operations, total                  101.4    19.2     835.5    12.6
Stockmann total, continuing operations           228.6    11.1   1 823.2     8.0
Closed operations:                                 0.0               0.0        
Hobby Hall, international operations                                            
Stockmann total                                  228.6    11.1   1 823.2     7.3

Change-%: change compared with the corresponding period of the previous year.

Further information:
Hannu Penttilä, CEO, tel. +358 9 121 5801
Pekka Vähähyyppä, CFO, tel. +358 9 121 3351

STOCKMANN plc
Hannu Penttilä
CEO

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