Stockmann’s Russian Revenues Drag
The growth of Stockmann’s Russia-based stores’ revenues is not as fast as it used to be, Interfax refers to Stockmann Group as reporting.
In July, the Russian Stockmann stores’ revenue growth was 58.5%. As for the revenues of the Group’s other Russia-based stores Lindex and Seppala, these went up in July as well. However, the company is not willing to disclose the exact figures regarding these stores’ growing output or the absolute figures for Russian revenues.
Stockmann Group’s total revenues rose by 8.6% in July and reached ?147.1m. However, last month’s growth rates were slower than those in June, when the retailer’s revenues increased by 13.5% (by 78.7% in Russia) and came to ?156m.
The company explains these are some seasonal variations.
In July, the Russian Stockmann stores’ revenue growth was 58.5%. As for the revenues of the Group’s other Russia-based stores Lindex and Seppala, these went up in July as well. However, the company is not willing to disclose the exact figures regarding these stores’ growing output or the absolute figures for Russian revenues.
Stockmann Group’s total revenues rose by 8.6% in July and reached ?147.1m. However, last month’s growth rates were slower than those in June, when the retailer’s revenues increased by 13.5% (by 78.7% in Russia) and came to ?156m.
The company explains these are some seasonal variations.
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