What: Stockmann group is back in the black after a €12,3m loss in 2020.

Why it is important: This positive trend is also benefitting to the department store division although the first half of 2021 prevents the full year results to be positive.

Stockmann, the group owning the eponymous department store and the Lindex brand, has reported a positive 2021 FY with an adjusted operating profit of €68,1m, to be compared with a loss of €12,3m in 2020. Expectations for 2022 remain positive as well as the dynamics around the Lindex brand are positive.

When it comes to the department store division, results are increasing as well, however the consolidated result for 2021 remains in the red due to a low traffic on the first half of the year.

Finnish department store Stockmann returns to profits