Stockmann Group's H1 sales in Baltics down 26 percent on-year ({{contentCtrl.commentsTotal}})

Stockmann department store in Tallinn.
Stockmann department store in Tallinn. Source: Martin Dremljuga/ERR

Revenue generated by Finnish retailer Stockmann Group in the Baltic countries in the first six months of 2020 dropped 25.7 percent year over year to €29.1 million.

In the second quarter, a reduction by 16.3 percent to €12.9 million took place, it appears from the interim report of Stockmann Group.

Stockmann Group saw its revenue in the first half of the year decreased 20.6 percent to €351.1 million and it finished the period with an operating loss of €33.5 million, compared with a loss of €11.2 million posted for the same period last year.

In the second quarter, the group's consolidated sales fell 23.2 percent on-year to €182.7 million and operating loss amounted to €3.1 million. The group had finished the second quarter of 2019 with an operating profit of €10.2 million.

The group results were strongly impacted by the restrictions arising from the outbreak of coronavirus, Stockmann informed the stock exchange.

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Editor: Katriin Eikin Sein

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