Brief: Stockmann Q1 Operating Loss Narrows To EUR 27.7 Mln

Lindex Oyj

30/04/2021 06:15

April 30 (Reuters) - Stockmann Oyj Abp  STOCKA.HE :
    * STOCKMANN GROUP IMPROVED ITS RESULT COMPARED TO PREVIOUS
YEAR
DESPITE TIGHTENED COVID-19 RESTRICTIONS
    * COST ADJUSTMENT MEASURES AND STRONG GROWTH OF E-COMMERCE
COMPENSATED FOR CHALLENGING SITUATION. 
    * STOCKMANN DIVISION'S ONLINE SALES IMPROVED SIGNIFICANTLY
AND
MAJOR CAMPAIGN CRAZY DAYS IN MARCH Q1 SLIGHTLY EXCEEDED LAST
YEAR.
    * GUIDANCE FOR 2021: (UNCHANGED)
    * Q1 CONSOLIDATED REVENUE WAS EUR 155.7 MILLION (168.4)
    * Q1 OPERATING RESULT WAS EUR -27.7 MILLION (-27.8).
    * DURING Q1 IN 2021, PANDEMIC CONTINUED TO HAVE A NEGATIVE
IMPACT
ON BUSINESS, ESPECIALLY IN CUSTOMER VOLUMES IN BRICK-AND-MORTAR
STORES.
    * THE ONLINE SALES WERE NOT ABLE TO FULLY COMPENSATE FOR
DECLINE
DESPITE STRONG INCREASE IN E-COMMERCE.

Source text for Eikon:  ID:nWkr5hLwXV 
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