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Tag Archives | Stockmann

Per Thelin 15.34.56

Per Thelin: ”I completed my job faster than expected”

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. […]

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Stockmann Moskva

Stockmann’s Russian department stores sold

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 […]

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Stockmann Moskva

Lindex’s excellent Christmas sales lifts Stockmann in December

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of which retail sales under the Stockmann and Lindex brands, excluding Russia and the product areas the company has withdrawn from, amounted to 146.0 million.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 […]

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Stockmann_z

Stockmann to fight 19.6 million extra taxation in Finland and Sweden

The Stockmann Group has received tax reassessment decisions from the Finnish and Swedish tax authorities requiring the Group companies to pay 19.6 million EUR in additional taxes, including punitive tax increases and related interest. Stockmann says in a statement it considers the decisions unfounded and will appeal against them. (more…)

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Stockmann Moskva

Breakthrough: Stockmann to sell Russian department store business to Debenham’s franchisee

  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 […]

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Crazy days

Stockmann reports strong Crazy Days in fashion and food

The weak Russian rouble continue to affect Stockmann’s turnover – but even in local exchange rates and excluding product categories that Stockmann has outsourced. The department store sales were down in September. On the other hand, fashion performed better than the market. And Stockmann’s traditional October sales week, Crazy Days, was more succesful than last year […]

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MustijaMirri_2010

Stockmann to outsource space to Musti & Mirri – gets pet grooming services

Stockmann believes pet supplies chain Musti & Mirri will serve the Helsinki flagship’s customers better. That makes it the fifth partner to move in as a large shop-in-department store solution, following Expert, Hamleys, Bonnier and Halti. ”The possibility of expanding cooperation with Hamleys, Musti & Mirri and Halti from Helsinki to Stockmann’s other stores during 2016 is being investigated,” […]

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Stockmann down 10.3 percent – suffered from heat and week rouble

The Stockmann Group’s sales amounted to 106.0 million EUR in August 2015. Unusually warm weather affected sales in both Stockmann Retail and Lindex. At comparable exchange rates, sales excluding Seppälä were down by 10.3 per cent. The Russian rouble weakened in August by 52.3 percent compared on the previous year. As a result, euro-denominated sales […]

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Stockmann cuts 100 jobs

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 […]

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He is the new CFO of Stockmann

Lauri Veijalainen has been appointed new Chief Financial Officer of the Stockmann Group. He will succeed Pekka Vähähyyppä who will leave Stockmann in August 2015. Lauri Veijalainen is currently Deputy Director for Stockmann’s Real Estate division and Development Director for the Group’s international operations. He will continue as a member of the Stockmann Management Team and he […]

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Pekka Vähähyyppä

CFO to leave Stockmann for Finnair

Stockmann plc’s Executive Vice President and CFO, Pekka Vähähyyppä, has resigned from his position, in order to continue his career outside the company. He has been appointed Chief Financial Officer and member of the Executive Board at Finnair. He will leave Stockmann latest on 14 August. “Pekka Vähähyyppä has worked at Stockmann since 2000, and he […]

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Seppälä

Seppälä buyers says stores will be more unique to conquer female costumers

Stockmann’s fashion chain Seppälä will have a new owner in April. CEO Eveliina Melentjeff and her husband Timo Melentjeff will take take over the chain in a management buyout. ”This will cover 82 stores in Finland and 20 in Estonia and secure the continuity of the Seppälä brand and its over 80-year heritage,” says Eveliina Melentjeff. […]

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Big box-formats seek Helsinki city centre locations

Several small sized chains has left Finland and mainly city malls recent years. But in Helsinki, big-box concepts now take over the sites. “It has become more important to be where the footfall is,” says Kai Keturi at Newsec to Hufvudstadsbladet. At the same time several Scandinavian concepts expand rapidly in Finland. (more…)

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