Stockmann’s operating profit slides in 2017

Retail giant Stockmann’s operating profit for 2017 will not reach the profit guidance published in September 2017, said the company in a press release.

The company on Thursday released its fourth quarter results and according to the preliminary information, its adjusted operating profit in continuing operations in 2017 will be approximately 12 million euros.

The company’s operating profit in 2016 was just under 31 million euros.

Lindex’s adjusted operating profit is estimated at approximately EUR 13 million, a figure which is significantly lower than almost 55 million euros posted in 2016.

According to Stockmann, the figures are based on unaudited preliminary financial information in continuing operations.