What: The Stockmann Group’s annual revenue increased by 9.2% at EUR 981.7 million. The gross margin decreased to 57.9%. The adjusted operating result improved to EUR 79.8 million.

Why it is important: In 2023, Stockmann expects the Group’s revenue to reach EUR 960 to 1,020 million and the Group’s adjusted operating result to be EUR 60 to 80 million. The guidance is based on the assumption that the continuing rise of inflation will increase costs and have a negative impact on consumer demand. The restructuring programme is proceeding according to plan, which means that all of Stockmann’s department store properties have been sold.

The Stockmann Group consists of two business divisions: the Lindex fashion company and Stockmann, a multichannel retail company with premium department stores. Strategic priorities are the following:

•    Providing the best customer experience and achieving the highest customer loyalty through the successful development of the omnichannel operating model,

•    Using strong brands and offering to enhance customer loyalty,

•    Maintaining and developing a strong commitment to fair and responsible business models and practices,

•    Seeking growth and efficiency together with third parties in order to extend the range of meaningful products and services as well as reach new customers groups,

•    Securing sustainable business by seeking growth in revenue, better cost-efficiency and efficient capital utilisation in order to improve the Group’s profitability.

The Stockmann Group’s financial report for 2022