Stockmann increases profits in Q3 2021
Finnish listed retail trade company Stockmann Group increased its profit in the third quarter of this year, to €33.3 million. At the same time last year, the profit stood at €16.5 million. Stockmann also has a branch in Estonia.
"In relation to the increase of the vaccination rate, the number of clients increased as well in the third quarter," head of Stockmann CEO Jari Latvanen said.
Stockmann Group's clothing chain Lindex achieved the best result in history.
"Lindex did very well. The sales increased in markets and business area. The increase continued in the online market," Latvanen said.
Stockmann department store unit increased sales by €5 million in the third quarter and reached profit for the first time after the end of 2019.
The adjusted operating profit of department stores was €0.1 million in the third quarter.
The number of department store visitors increased significantly in the third quarter.
The turnover of the Stockmann Group in the third quarter was €237.8 million.
Stockmann said that the company's reorganization plan is progressing according to plan. Stockmann applied for the company's restructuring in the spring of 2020. In February of this year, the Helsinki District Court approved the company's reorganization plan, as reported by the daily newspaper Helsingin Sanomat.
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Editor: Roberta Vaino