Magasin will rebuild for millions despite pressure on clothing sales

NEWS June 2023 Finans

What: Magasin du Nord has laid out a new strategy with a multi-million dollar investment in remodeling its stores. 

Why it is important: The department store’s goal is to modernize and strengthen its stores to meet the needs of future generations. 

Magasin du Nord is accelerating a DKK 70 million investment plan which focuses on strengthening its stores and its positioning in the battle for customers. 

The modernization of the stores will focus on a more agile and customer-friendly interior design. 

Statistics Denmark reported retail sales increasing by 1.6% from March to April, however, clothing sales fell by 0.6%. At Magasin, the message is that there is a new and slightly greater optimism among customers. 

The first investments in the project are aimed at two stores in Aarhus and Lyngby which will be remodeled in the coming months. 

Magasin states that it is seeing more younger consumers in the store. At Aarhus, more than 50% of customers are between 15-29 years old, with the same group making up 27% of customers in Lyngby. 

The department store’s Aarhus location had the second most visitors last year with 2.9 million. 

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