Company Overview of Stockmann Oyj ABP
Stockmann Oyj ABP is engaged in the retail trade activities. The company’s Department Store division operates department stores that offer fashion, food, sport, and leisure products, as well as cosmetics, homeware, electronics, books, and stationery. As of December 31, 2013, this division operated 16 department stores and 13 other stores online stores in Finland, Russia, Estonia, and Latvia. The Department Store division also operates 7 Academic Bookstores, 11 Stockmann Beauty stores, and 1 Hobby Hall store, as well as online stores, including Stockmann.com, Akateeminen.com, and Hobbyhall.fi in Finland; and 1 shopping centre and 1 outlet store in Russia. Its Fashion Chain division operates L...
Aleksanterinkatu 52 B
PO Box 220
Key Executives for Stockmann Oyj ABP
Stockmann Oyj ABP does not have any Key Executives recorded.
Stockmann Oyj ABP Key Developments
Stockmann Group Reports Revenue Results for the Month Ended February 2014
Mar 14 14
Stockmann Group reported revenue results for the month ended February 2014. The Stockmann Group's revenue amounted to EUR 110.5 million in February 2014. Excluding the terminated Zara franchising operations in Finland, revenue was down 14.8% on the previous year. The decline was due to the challenging market environment and currency effects, mainly the Russian rouble, which weakened by almost 20% compared to the Euro. Revenue at comparable exchange rates was down 12.6%.
Stockmann Proposes Dividend for the Year 2013 Payable on April 16, 2014
Feb 13 14
The Board of Directors of Stockmann proposed dividend of EUR 0.40 per share be paid in the Annual General Meeting to be held on March 18, 2014 compared to EUR 0.60 per share paid in 2012. The proposed dividend is 59.5% of earnings per share. Under this proposal, a total of EUR 28.8 million would be paid in dividends. The record date for the dividend distribution is March 21, 2014. The Board of Directors proposes that the dividend be paid out on April 16, 2014.
Stockmann Group Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 2013; Provides Financial Guidance for the First Quarter and Full Year of Fiscal 2014
Feb 13 14
Stockmann Group reported unaudited consolidated earnings results for the fourth quarter and full year ended December 2013. For the full year, the company reported revenue of EUR 2,037.1 million against EUR 2,116.4 million a year ago. Operating profit was EUR 54.4 million against EUR 87.3 million a year ago. Profit before tax was EUR 26.8 million against EUR 54.9 million a year ago. Profit for the period attributable to equity holders of the parent company was EUR 48.4 million against EUR 53.6 million a year ago. EPS, diluted, adjusted for share issue was EUR 0.67 against EUR 0.74 per share a year ago. Net cash from operating activities was EUR 125.4 million against EUR 123.7 million a year ago. Purchase of tangible and intangible assets was EUR 61.1 million against EUR 54.1 million a year ago. Gross capital expenditure was EUR 56.9 million against EUR 60.3 million a year ago. Return on equity was 5.4% against 6.1% a year ago. Stockmann's profit for the year decreased less than the operating profit, due to a tax refund to Lindex.
For the quarter, the company reported revenue of EUR 607.8 million against EUR 643.8 million a year ago. Operating profit was EUR 48.3 million against EUR 56.8 million a year ago. Profit before tax was EUR 39.3 million against EUR 48.2 million a year ago. Profit for the period was EUR 36.5 million against EUR 47.7 million a year ago. EPS, diluted was EUR 0.51 against EUR 0.66 per share a year ago. Cash flow from operating activities EUR 183.2 million against EUR 141.1 million a year ago. Capital expenditure was EUR 13.1 million against EUR 19.4 million a year ago.
The capital expenditure for 2014 is estimated to total approximately EUR 60 million, which is less than the estimated depreciation of approximately EUR 75 million. Most of it will be used for expansion and refurbishment of the Lindex store network, department store renovations and IT system renewals. At comparable exchange rates, Stockmann expects the Group's revenue to increase slightly in 2014. Revenue growth is expected to take place in the second half of the year. Operating profit is expected to be somewhat higher than in 2013.
The first-quarter operating result will be negative due to normal seasonal variation.
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