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 euros compared to a loss of 0.8 million euros.

Its gross margin increased to 60.5 percent from 54.1 percent.

For the half year, the group reported a 6.5 percent increase in consolidated revenue to 383.7 million euros.

The company reported an operating loss of 1.4 million euros, compared to a loss of 28.3 million euros a year earlier, and an adjusted operating profit of 5.6 million euros compared to a loss of 25.9 million euros.

Gross margin for the half year increased to 58.8 percent from 54.2 percent.

The group, which owns Swedish fashion chain Lindex, said it expects “a clear increase to the group revenue and the adjusted operating result to be clearly positive assuming that no major Covid-19 restrictions are imposed”.