Stockmann soars as company mulls options for department stores biz

Lindex Oyj

25/09/2023 09:08

** Shares in Stockmann  STOCKA.HE  rise as much as 9% after
the Finnish retailer on Monday said it would investigate
alternatives for its department stores business and consider a
name change
    ** The options for the business include possible ownership
changes or strategic partnerships, or continuing under the
current structure
    ** "We believe that the sale of department stores would be
clearly positive for the value of the company," Inderes analyst
Rauli Juva says, adding he does not see other options creating
value in the same way
    ** The group also said it considers a name change to Lindex
Group to better reflect Lindex division's role in the group's
business
    ** The retailer currently consists of two business divisions
- the Lindex fashion company and Stockmann, a multichannel
retail company with premium department stores
    ** The stock is the best performer on Helsinki all-share
index  OMXHPI , and is on track for best day since April 2022

 (Reporting by Elviira Luoma)
 ((Elviira.luoma@thomsonreuters.com))