Stockmann - Company Announcement

Correction: Stockmann Group’s preliminary revenue in December and for full year 2014

Helsinki, Finland, 2015-01-09 14:30 CET (GLOBE NEWSWIRE) -- STOCKMANN plc,
Company Announcement 9.1.2015 at 15:30 EET 

Stockmann corrects its release published earlier today, 9 January 2015. The
release contained an error in Lindex's preliminary revenue in December 2014.
Lindex's euro-denominated revenue was down 5.7 per cent in December 2014
(earlier incorrect figure -9.9 per cent). The correction has also an impact on
the Fashion Chain Division's and the Stockmann Group's preliminary revenue in
December 2014 and for full year 2014. 

The corrected release in full can be found below.

Stockmann Group's preliminary revenue in December and for full year 2014

The Stockmann Group's preliminary revenue was down 10.2 per cent on the
previous year and amounted to EUR 208.1 million in December 2014. The decline
was mainly due to currency effects, mainly the Russian rouble, which weakened
55 per cent on the previous year compared to the euro. Revenue at comparable
exchange rates was down 3.8 per cent. 

The Department Store Division's revenue was up 20 per cent on the previous year
in Russia in rouble. Due to the very weak exchange rate of the rouble,
euro-denominated revenue was down 24 per cent in Russia. In Finland and in the
Baltic countries, Christmas sales were below the level for 2013 in all units
except the Stockmann online store. The division's total euro-denominated
revenue decreased by 11.4 per cent; down 8.2 per cent in Finland and 19.4 per
cent in international operations. 

Lindex's revenue in local currencies was on a par with the previous year or
down 5.7 per cent in euro-denominated revenue. Seppälä's revenue was down 24.1
per cent or down 13.1 per cent in comparable stores, excluding the closed 33
stores in 2014. The Fashion Chain Division's total revenue decreased by 8.4 per
cent; down 10.2 per cent in Finland and 8.0 per cent in international
operations. 

Revenue for 2014

The Stockmann Group's preliminary revenue for the full year 2014 amounted to
EUR 1 844.5 million. Revenue was down 9.3 per cent on the previous year, or
down 5.5 per cent at comparable exchange rates. 

The Department Store Division's revenue was down 10.5 per cent. Revenue was up
in the Baltic countries and in local currency in the Russian department stores,
but euro-denominated revenue in international operations was down 11.0 per
cent. Revenue was down 10.2 per cent in Finland. 

Lindex's revenue in local currencies was on a par with the previous year or
down 5.3 per cent in euro-denominated revenue. Seppälä's revenue was down 21.3
per cent. The Fashion Chain Division's revenue was down 7.7 per cent; down 9.3
per cent in Finland and down 7.3 per cent in international operations. 

Stockmann will publish its financial statements bulletin for 2014 on 13
February 2015 at 8:00 EET. The company's financial statements, the report by
the Board of Directors and an electronic version of the Annual Report 2014 will
be published in the week starting on 23 February 2015. 

Revenue (exclusive of VAT) in December

                                      12/2014  Change-%
                                    EUR mill.          
Department Store Division, Finland       94.0      -8.2
Department Store Division,               33.0     -19.4
international operations                               
Department Store Division, total        127.0     -11.4
Fashion Chain Division, Finland          16.0     -10.2
Fashion Chain Division,                  65.1      -8.0
international operations                               
Fashion Chain Division, total            81.1      -8.4
Unallocated                               0.0          
Operations in Finland, total            110.0      -8.4
International operations, total          98.1     -12.2
Stockmann total                         208.1     -10.2



Revenue (exclusive of VAT) in January-December

                                 1-12/2014                    Change-%  Change-%
                                 EUR mill.            excl. terminated          
                                                          franchising*          
Department Store Division,           745.5                       -10.2     -10.6
 Finland                                                                        
Department Store Division,           355.1                       -11.0     -11.0
international operations                                                        
Department Store Division,         1 100.6                       -10.5     -10.7
 total                                                                          
Fashion Chain Division, Finland      136.5                        -9.3      -9.3
Fashion Chain Division,              607.1                        -7.3      -7.3
international operations                                                        
Fashion Chain Division, total        743.6                        -7.7      -7.7
Unallocated                            0.3                                      
Operations in Finland, total         882.3                       -10.0     -10.3
International operations, total      962.1                        -8.7      -8.7
Stockmann total                    1 844.5                        -9.3      -9.5


Change-%: change compared with the corresponding period of the previous year.
*Change compared with the revenue excluding the Zara franchising operations in
Finland which were terminated on 1 March 2013. 

Further information:
Pekka Vähähyyppä, CFO, tel. +358 9 121 3351Nora Malin, Director, Corporate Communications, tel. +358 9 121 3558

www.stockmanngroup.com


STOCKMANN plc

Nora Malin
Director, Corporate Communications


Distribution:
Nasdaq Helsinki
Principal media