With change of month for the Crazy days campaign, the Stockmann Group’s sales in March were down by 26.9 percent and amounted to 84.0 million EUR in the continuing product areas and businesses. Without the campaign effects, the sales seem to have dropped 1.4 percent. And the Crazy days held in April dropped 3 percent compared to last […]
Polarn O. Pyret has today taken the decision to close the smaller and unprofitable operations in the Netherlands and China and to expand the number of stores in Finland and Norway. “The net number of stores will increase over the next 15 months, ” says Magnus Håkansson, President and CEO of RNB. (more…)
As expected – Elgiganten takes over Fona’s brand and operations in ten stores in Denmark with plans to turn it into a multichannel city concept under Elgiganten’s label. ”We have good experience from Norway and Sweden, with shops in the city center, and therefore we are happy with this agreement, ” said Jaan Ivar Semlitsch, […]
Optician chain Synsam is investing in a new business in optics and sports glasses. Synsam Sports will offer personalized glasses, specialized for 18 different sports. The new chain will be established in about 100 Nordic locations. The first store opens at Sankt Eriksplan in Stockholm on 18 April. (more…)
After a series of cancelled store openings in 2012, Media Markt now says it is now prepared to open several new stores. The chain says that the number of profitable stores now have doubled – and points to a 67 million improvement despite 230 million SEK in losses last year. “We can confirm that the business is developing according […]
One of Scandinavia’s largest fashion portals, Nelly.com, has given 35 people notice. The layoffs are related to staff at offices in Borås and Stockholm. (more…)
H&M reports a 9 percent sales increase for the first quarter, but the negative US-dollar effect won’t be neutralized until the last quarter this year. ”This has made our purchasing much more expensive, as well as increased markdowns due to larger volumes of winter garments that remained as a result of the warm autumn,” says […]
Clas Ohlson has decided to change store format in the UK. Seven stores will close – instead Clas Ohlson starts opening stores with new and smaller formats aimed for multichannel. (more…)
Dansk Supermarked Group (Danish Supermarket Group) will annually invest 2 billion DKK in the construction of new stores, refurbishment of existing and further development of the company’s e-commerce platforms. In 2016 more than a billion will be invested in Denmark. This was announced with the annual result in European top class. (more…)
Thomas Behring resigns as CEO of the fashion chain JC. (more…)
Stockmann’s resigning CEO Per Thelin says he completed the reorganization the Board hired him to do. But he is ready to continue as an adviser to Stockmann’s management. ”We have now taken all the big stages and completed some. Originally, we estimated that it would take two years, but we have achieved it already,” he tells FNB. […]
The Danish interior chain Søstrene Grene now opens its first store in England. And this summer, Germany waits. “We believe we’ve come up with something that the UK retail does not yet have, and therefore we also believe that our concept has a justification in England in the long run. 150 stores are not unrealistic in the […]
ICA Group reviews its ownership in inkClub. ”Going forward we see limited synergies with our core business, says Liv Forhaug, Chief Strategy Officer, ICA Group. (more…)
Claus Hommelhoff’s investment in jewelery chain Pilgrim pays off. One year after he put in 27 million DKK into the Pilgrim it appears to be a complete turnaround with monthly reports showing an operating profit of 1 million DKK, writes Børsen. (more…)
Lindex launches the opportunity to shop via Instagram. (more…)
Despite a 10 percent growth in February, H&M reported sales under the analysts’ forecasts. (more…)
Kesko Group’s sales in February 2016 totalled 656.8 million EUR. In comparable terms excluding Anttila, sales increased by 5.6 percent in local currencies. “In February, Kesko’s sales increased in all strategic growth areas: the grocery trade, the building and home improvement trade, and the car trade,” says Kesko’s President and CEO Mikko Helander. (more…)
Swedish global fashion portal NA-KD.com partnership with LinkedIn Sweden’s Welcome Talent-program. The idea is to make it easier for newcomers to find internship. ”We’ve already received 50 applications the first day,” says CEO Jarno Vanhatapio. (more…)
The ownership battle of Stockmann looks to turn out in Hartwall’s favor. Now, the third largest owner of Stockmann, The Swedish Literature Society (SLS) makes a turn and announces that it does not see obstacles to a merger of the two share series the company. (more…)
Despite an extra day in February, Stockmann’s sales were down by 2.9 percent in February. Lindex grew by 3.2 percent. (more…)
Citycon has launched an extensive project to introduce BREAAM In-Use certification for its shopping centres. So far, a total of 16 shopping centres owned by Citycon and four managed by the company have been granted the BREEAM In-Use certificate. Of these, eight are located in Norway, four in Finland, three in Sweden and one in […]
Reitangruppen is more solid than ever. Total turnover in 2015 was 85.6 billion NOK, an increase of 4 billion from 2014. ”Thanks to talented people with strong values and aspirations we have never been better prepared for the future,” says Colonial Major Odd Reitan. (more…)
The owner battle of Stockmann continues. The chairman Kaj-Gustaf Bergh is leaving his post – and former CEO of Finnair, Jukka Hienoen, is suggested to suceed him. “It is better that a neutral and independent chairman is chosen,” says Kaj-Gustaf Bergh to Hufvudstadsbladet. (more…)
40-year-old fashion brand Boomerang is investing heavily in a new approach, new stores and new markets. New contracts have been signed in China and Norway. (more…)
Crisis chain Indiska makes an effort to increase the company’s e-commerce. Now the fashion company recruits Niclas Hemminger from Consortio Fashion Group as Head of Indiska’s online expansion. (more…)
Ikea Norway came one step closer a juicy tax backlash after losing also in the Court of Appeal. The Court of Appeal agreed with the Norwegian tax authorities that the way Ikea sold properties to themselves in 2007 was “unreasonable and unnatural.” (more…)
Christina Tillman resigns as President of interior design and fashion company Gudrun Sjödén after just over a year on the position. ”As I see it, there can only be one CEO of a company,” says Christina Tillman to Habit. (more…)
DT Group, the largest buildingware retail actor in the Nordics, has a new President, the Stark-CEO Søren P Olesen. But only for the next 12 months. “As Søren P. Olesen must hold two major CEO positions over the next year, our owner Wolseley will wait before they make the position permanent,” says CFO Søren Strøm. (more…)
Ikea is in focus with the new taxation package from the EU-commission. ”Ikea has a very aggressive solution aiming to not pay any tax at all”, says former prosecutor Eva Joly, member of the EU-parlament. Her group has come to the conclusion that Ikea has avoided one billion euro in taxes for the last six years. […]
XXL is ready for new markets. Most likely with an establishment in Austria next year. But the sporting goods chain also looks at full coverage in the Nordic region. “XXL has mapped the Danish market,” says CEO Fredrik Steenbuch. (more…)
Finnish based shopping center company Citycon has signed an agreement to sell the Magistral shopping centre in Tallinn, Estonia, to the Baltic commercial property fund EfTEN Kinnisvarafond II AS. The purchase price is 24 million EUR. “This divestment is in line with Citycon’s strategy to focus on urban, grocery-anchored shopping centres in the Nordics and […]
The H&M group’s sales including VAT increased by 7 percent in local currencies in January 2016 compared to the same month last year. That was according to the forecast. At the same time H&M is accused of breaking its own code of conduct, importing cotton from fabrics in Turkmenistan that use forced labor. (more…)
A power struggle has emerged within Stockmann. According to the KSF-owned Hufvudstadsbladet, largest shareholder Hartwall wants to combine the share series and thus reduce the Finnish-Swedish interests of power in Stockmann. Stockmann’s and KSF’s Chairman Kaj-Gustaf Bergh says it’s an attempt to hijack the company. (more…)
Kesko partners up with Swedish ICA’s international ICA Global Sourcing (IGS) in international purchasing for Kesko’s home and speciality goods trade, to an extent of which is unprecedented in the history of Kesko. The strategy is to achieve a more diverse selection of home and speciality goods available at K-food stores. The key objective of the sourcing cooperation mainly from […]
Lidl Sweden switches CEO, Johannes Fieber succeeds Conor Boyle. (more…)
The Nordic, farmers’ owned, dairy giant Arla is today announcing great structural changes to its organisation, a new executive management team and a new structure resulting in that 500 roles will disappear across its markets. (more…)
The jewelry retail entrepreneur Jesper Nielsen steps out of Endless, the company he founded in 2013, after internal disputes. The other shareholders buy his stake in the company. ”I am extremely proud of what we have accomplished with Endless Jewelry. Together we have made history, and you have all been amazing and an important part of this. […]
DK Company’s holding company DKC Holding 2011 buys back shares for 137 million DKK from IC Group and plans a delisting from the stock exchange. (more…)
Göran Bille’s assignment as CEO Gina Tricot was more demanding than he thought. Now he’s trying to find the soul of the once so successful fashion chain again. “The target group is extremely disloyal,” he says. (more…)
UK fashion chain will open their third Swedish store on Drottninggatan in Stockholm in August. The facilities are inside the former PUB department store that is undergoing major changes. (more…)
Stadium’s former CEO, Gustaf Öhrn, has been recruited as the new CEO of department store chain Åhléns. “It will be extremely exciting to be on the trip to take a strong brand like Åhlens into a new phase,” says Gustaf Öhrn. (more…)
Kesko’s net sales last year were 8,679 million EUR, excluding Anttila they remained at the level of the previous year. Sales of groceries suffered from declining prices. ”We can be satisfied when we take account of the continued weak trend in the purchasing power of the main market area in Finland, says President and CEO Mikko Helander. […]
The past two years Lindex has involved employees as models for the Bra-volution campaigns. This year, they asked the customers to be underwear models. 6 women out of 700 applicants was chosen. (more…)
H&M’s nomination committee has proposed two new members of the board of directors, the former Nordic director of Google, Stina Honkamaa Bergfors, and the lawyer Erica Wiking Häger. ”From her various leading positions in companies such as Google and IKEA, Stina Honkamaa Bergfors has gathered solid and valuable experience within media, digitalisation and entrepreneurship,” says Chairman […]
Stockmann has today completed the divestment of its department store business in Russia to Reviva Holdings Limited. The transaction has been approved by the Russian Federal Antimonopoly Service. Reviva bought 100 percent of AO Stockmann, a Russian subsidiary of Stockmann plc, and assumed operations of all seven department stores in Russia from 1 February 2016. Stockmann […]
Indiska’s debts will be written down substantially. “Creditors approve a reconstruction,” the lawyer Kent Hägglund tells Market.se. (more…)
The international jury for the MIPIM Awards 2016 have released the list of the finalists for this prestigious competition. In the shopping center category is Mall of Scandinavia in Stockholm nominated. The finalist competitors comes from Germany, France and Shanghai. Check them out. (more…)
H&M has made another record year. Total sales went up 11 percent in local currencies, and the profit of nearly 21 billion SEK is the best so far. ”Sales have developed well for all our brands: H&M, H&M Home, COS, & Other Stories, Weekday, Monki and Cheap Monday,” comments CEO Karl-Johan Persson. (more…)
The Danish telecom giant TDC has decided to gather its private market under the YouSee brand. This means 50 stores will change signs and concept. “The decision to merge the brands in the private market and simplify our commercial business, enabling us to simplify our business and the way we work considerably. It will make […]
Elkjøp Group’s Christmas sales, including Black friday and sales period over New Year, was great in Sweden, good in Norway and tough in Denmark and Finland. That’s the conclusion after Dixons Carphone, owner of Elkjøp Group, today published it’s trading statement for Christmas, ten weeks ending 9 January. The Group now sets high hopes on their B2B-solution […]
