HELSINKI, June 12 Finnish department store and
fashion chain Stockmann on Thursday cut its outlook
for the second time in two months due to weaker-than-expected
demand at its Finnish stores.
Stockmann said May sales fell 8.3 percent from a year ago
and without a considerable change in the market environment in
the latter half of the year its operating profit would end up
"significantly weaker than in 2013".
In April 29, the company had said it expected 2014 operating
profit "not to exceed the figure for 2013".
"Demand of non-food products has continued to be weaker than
expected in the Finnish market during the second quarter,"
Stockmann said on Thursday, adding that a weak Russian rouble
was also hurting results.
Shares in the company fell 3.5 percent after the
(Reporting by Jussi Rosendahl; editing by Jason Neely)