Lindex falls after Q3 miss, lowered sales growth guidance

Lindex Oyj

25/10/2024 08:55

** Shares in Lindex  LINDEX.HE  fall more than 4.5% after the
Finnish clothes retailer and department store operator posted Q3
results below estimates and lowered its 2024 sales guidance
    ** Lindex' Q3 operating profit of 15 million euros ($16.24
million), misses Inderes' estimate of 21.2 million
    ** Inderes analyst Rauli Juva says results missed
expectations because logistics problems burdened the retail unit
    ** Lindex lowers 2024 sales growth guidance to between -2%
and 0% from between -2% and 2% seen earlier
    ** Inderes says work remains to be done in Q4 for Lindex to
reach new guidance
    ** Shares track their worst day in three months if losses
hold
    
($1 = 0.9239 euros)

 (Reporting by Essi Lehto)
 ((essi.lehto@thomsonreuters.com; +48 58 7696600;))