Lindex news and archive

Stockmann-owner Lindex Group's Q2 revenues decline

Fashion retailer Lindex Group, having two divisions - Lindex and Stockmann under its fold, reported second quarter revenue of 251.6 million euros, a slight decrease of 0.2 percent or 1 percent in local currencies. For the first half period, revenue was 444.4 million euros, down by 1.3 percent and 2 percent in local currencies. Commenting on the...

People

Lindex Group names Henrik Henriksson as CFO

Lindex Group, owner of two fashion brands Lindex and Stockmann, has appointed Henrik Henriksson as the company’s new chief financial officer (CFO) and a member of the group management team. In addition to his role as group CFO, the company said in a release, Henriksson will also act as the Lindex division’s CFO. He will take up his new position...

Business

Finland’s Stockmann changes name to Lindex Group

Finnish department store retailer Stockmann Oyj Abp has announced that it has officially changed its trade name to Lindex Group Oyj, a title that has been registered in the country’s trade register. As such, the company will also be changing its ticker in the Nasdaq Helsinki’s trading system, with its current trading code of the share, Stocks,...

BusinessFeatured

Where are they now? A look back on the innovation journey of 4 brands

It is well understood that extending the life of a garment is considered one of the most effective ways to reduce the overall impact of the clothing industry. Why? Firstly, optimising the use of clothing can contribute to a decrease in production and consumption of new garments and secondly, it can reduce the growing volumes of textile waste...

Business

Stockmann reports Q3 revenue, profit growth

Finnish fashion group Stockmann has reported revenue and profit growth in the third quarter of the year, driven by a strong performance at its Lindex brand. In the three months to September 30, the group’s consolidated revenue came in at 237.8 million euros, a 12 percent increase from a year earlier at comparable currency rates. Its operating...

Business

Lindex owner Stockmann reports Q2 revenue, profit growth

Finnish fashion group Stockmann has reported a 21.4 percent increase in consolidated revenue to 228 million euros in the second quarter of the year. For the three months to June 30, the group reported an operating profit of 26.3 million euros compared to a loss of 0.4 million euros a year earlier, and an adjusted operating profit of 26.7 million...

Business

Stockmann to sell, lease back properties in restructuring plan

Finnish fashion group Stockmann has announced it will sell and lease back department store properties in its portfolio as part of its restructuring plan. The company announced Monday that its restructuring programme is based on the continuation of its department store operations and the sale and lease-back of department store properties located...

Business

Lindex owner Stockmann reports improved performance in Q3

Finnish fashion group Stockmann has reported improved trading in the third quarter amid the company’s ongoing cost-cutting strategy. For the three months to 30 September, the group reported an operating profit of 11.7 million euros compared to a profit of 2.1 million euros a year earlier. Consolidated revenue at the company fell 6.8 percent to...

Business

Stockmann-owned Lindex to launch cost-cutting programme, cut jobs

Stockmann-owned Lindex has announced cost-cutting measures and jobs cuts following a drop in Q2 revenue. The Swedish fashion chain will aim to reduce its costs globally by approximately 14.5 million euros, which it said will mainly be realized from 2021 onwards. “The savings will be achieved, among other things, by optimizing Lindex’s store...

Business

Lindex owner Stockmann swings to half-year loss following store closures

Finnish fashion group Stockmann has reported a half-year loss following store closures tied to the Covid-19 pandemic. The company reported a loss of 3.1 million euros, compared to a profit of 10.2 million euros for the first half of last year. Its revenue for the period was 182.7 million euros, down 23.2 percent from last year. However, the...

BusinessFeatured

Lindex owner Stockmaan files for corporate restructuring

Finnish fashion group Stockmann is filing for corporate restructuring after experiencing a “significant” impact from the Covid-19 pandemic. The group, which owns Swedish fashion chain Lindex, said it has made “continued strong growth” on its online stores since the beginning of March, but that has not been enough to offset a “drastic decline” in...

Fashion

Lindex to support 350 female cotton farmers through new project

Swedish fashion chain Lindex has collaborated with CottonConnect on a project which aims to train and educate 350 female cotton farmers to work in a more circular way. The two-year 'Women in Cotton' project, which Lindex is funding, will help women from tribal areas in India transition from conventional farming to organic farming. They will also...