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 Stockmann Group’s sales in December amounted to 173.7 million EUR, of which retail sales under the Stockmann and Lindex brands, excluding Russia and the product areas the company has withdrawn from, amounted to 146.0 million. Sales in the continuing product and market areas were up 1.6 percent due to Lindex’s excellent Christmas sales. The […]
Now Stockmann has signed an agreement to sell its Russian department store business to Reviva Holdings Limited, which is the owner of Debruss, the Russian franchisee of the international department store chain Debenhams. ”Stockmann is targeting a turnaround in its profitability, and therefore we have decided to withdraw from the entire Russian department store […]
Academic Bookstore has been a part of Stockmann since 1930. Now it is sold to Swedish media group Bonnier who owns Adlibris. ”The Academic Bookstore with its impressive heritage is a great addition to our operations,” says Jacob Dalborg, CEO of Bonnier Books. (more…)
Stockmann is renewing the support functions of its Retail and Real Estate businesses and its Group Administration in Finland. Now the negotiations have been concluded and 100 jobs will be reduced in support functions. “By streamlining our support function processes we can increase the agility of our operations and improve our competitiveness,” says CEO Per […]
The changes at Stockmann is coming to life, but the first quarter reports declining revenues and close to 50 million EUR loss. ”Stockmann’s turnaround back to profit has begun and several strategic steps have already been taken,” says CEO Per Thelin. (more…)
Stockmann’s efficiency program from February 2015 is now in action. Stockmann confirmed Tuesday it will close down the Oulu department store in early 2017 at the latest. The decision will affect all employees, currently around 230 people, in the store. (more…)
Stockmann has appointed two new members to its Management Team, Petteri Naulapää and Nora Malin. At the same time, the CSO Kjell Sundström, who initiated the Group’s strategy process, leaves Stockmann. (more…)
Stockmann’s General Meeting elected two new members to the board – and Kaj-Gustaf Bergh as the Chairman. CEO Per Thelin gave an overview of the challenges and the implementing of the new strategy – and announced that further decisions and actions under the new strategy will be made during the coming months. (more…)
Stockmann Group will heavily reduce its presence in Russia. Lindex is to leave Russia and close all stores. Four department stores in the Moscow region in the Ikea Mega-malls will close down. And in Finland, the Oulo store will close. (more…)
After 150 years in business, Stockmann has spent the last week saying “sorry” to their customers. And to make a promise. In an honest video, new CEO Per Thelin and Stockmann staff acts to a speaker voice. ”Somewhere down the line we lost our edge. We’ll be the best place for shopping once again.” (more…)
An independent Lindex. A totally cut down Seppälä. And an improved integration between retail and real estate operations to make the omnichannel strategy work. That is Stockmann’s strategic direction that was made official today. (more…)
There is no Per Thelin-effect yet. Stockmann’s doing better outside Finland – but the Russian exchange rate makes the Department store revenues look worse. Still, Stockmann’s Finnish department stores lost 13.7 percent of their sales in November. And Lindex and Seppälä had a tough month. (more…)
Per Thelin is appointed as CEO of Stockmann to make another company turnaround. But is he future man when it comes to getting the multichannel project right? First thing to do together with another Swede, Ingvar Larsson, is to mount down about half of the Seppälä-chain. (more…)
Per Thelin, known for his track record to improve profitability in international retail companies, has been appointed new CEO for Stockmann. ”Per has great potential to turn Stockmann’s financial performance up”, says Kaj-Gustaf Bergh, Chairman of Stockmann’s board of directors. (more…)
