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Thursday, 29 October, 2020
Home BUSINESSStockmann incurs euro 12.7m loss in 9 months
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Thu, 29 Oct, 2015 12:10:10 AM
FTimes – STT Report, Oct 29
 
President and CEO of Stockmann plc released the Group's ´financial results at a press conference in Helsinki on Wednesday. Photo – Lehtikuva.
Retail giants Stockmann on Wednesday announced it will continue to pursue the comprehensive turnaround of its business in accordance with the strategic direction set in late 2014.
 
Since the January 1, 2015, the company has been divided into three segments of Stockmann Retail, Retail Estate and Fashion chains.
 
The company released its interim report on Wednesday for the period January-September 2015, which showed that the Group incurred a loss of euro 12.7 million while the revenue reduced by 3.6 percent.
 
The outlook for 2025 remains unchanged due to structural changes, said a press release of the com-pany. 
 
Stockmann said it completed the sale of Academic Bookstore to Bonnier Books as planned. The Academic Bookstore will continue as a tenant in most of Stockmann's Finnish department stores.
 
Stockmann also announced that it will withdraw from offering its own toy and pet supplies selec-tions during the last quarter of 2015. In Helsinki’s flagship premises, Hamleys, the oldest toy shop in the world, will open its store in November 2015.
 
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