🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

Finnish retailer Stockmann sees better times ahead

Published 02/25/2022, 01:17 AM
Updated 02/25/2022, 02:02 AM
© Reuters. FILE PHOTO: People walk past Stockmann shopping center in Helsinki, Finland, May 6, 2017. REUTERS/Ints Kalnins

HELSINKI (Reuters) - Finnish premium department store chain Stockmann on Friday posted a rise in fourth-quarter earnings and said it expected the positive development to continue as long as no major COVID-19 restrictions are imposed anymore.

The 160-year-old retailer, which has gone through heavy cost cutting and debt management, said its October-December operating profit was 50.6 million euros ($56.8 million), up from a loss of 256 million in the same quarter a year ago.

© Reuters. FILE PHOTO: People walk past Stockmann shopping center in Helsinki, Finland, May 6, 2017. REUTERS/Ints Kalnins

($1 = 0.8913 euros)

(This story corrects dateline to February 25 from February 24)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.