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Stockmann Oyj Abp (STCBV.HE)

STCBV.HE on Helsinki Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Stockmann August sales up 0.2 pct
Monday, 12 Sep 2016 03:30am EDT 

Stockmann Oyj Abp :Group sales in August up 0.2 pct at 86.8 million euros in continuing product areas and businesses.  Full Article

Stockmann appoints Lauri Veijalainen new CEO
Monday, 12 Sep 2016 01:30am EDT 

Stockmann Oyj Abp :Board of Directors has appointed Lauri Veijalainen as Stockmann's new Chief Executive Officer as of Sept. 12, 2016.  Full Article

Stockmann Q2 adjusted EBIT EUR 11.1 million, beats expectations
Friday, 12 Aug 2016 01:00am EDT 

Stockmann Oyj Abp : Q2 revenue 352.7 million euros ($392.8 million) (Reuters poll: 350 million euros) . Q2 adjusted EBIT 11.1 million euros (Reuters poll: 9.3 million euros) .Outlook for 2016 remains unchanged.  Full Article

Stockmann July sales down 9.7 pct to 88.0 mln euros
Friday, 12 Aug 2016 01:00am EDT 

Stockmann Oyj Abp : Sales in July were down by 9.7 percent and amounted to 88.0 million euros ($98.01 million) in continuing product areas and businesses . Total sales in July were 92.8 million euros, including Hobby Hall . Retail sales in continuing product areas and businesses were down by 13.8 percent .Sales were down by 15.3 percent in Finland.  Full Article

Stockmann June sales down by 4.6 pct at EUR 101.0 mln
Tuesday, 12 Jul 2016 06:00am EDT 

Stockmann Oyj Abp : Sales in June were down by 4.6 pct and amounted to 101.0 million euros ($112.19 million) in continuing product areas and businesses . Retail's sales in continuing product areas and businesses were down by 14.0 pct .Sales were down by 16.3 pct in Finland where summer sales campaign was launched later than in previous year.  Full Article

Stockmann efficiency measures expected to result in reduction of about 380 employees
Monday, 13 Jun 2016 06:15am EDT 

Stockmann Oyj : To accelerate turnaround of loss-making Stockmann Retail division . Says Management Teams of Stockmann Group and Stockmann Retail will be merged to speed up decision-making . It is anticipated that annual savings target of 50 million euros will be achieved by end of 2016 . Says new distribution centre that has been taken into use will produce additional savings as of 2017 . Says will initiate codetermination negotiations affecting about 3,000 employees in Finland . Measures are expected to result in reduction of around 380 employees in Finland . Target is for Stockmann Retail to achieve positive operating result (EBIT) in 2018 . Goal is annual cost savings of about 20 million euros, which will be achieved during 2017 . Potential reductions will be implemented from autumn 2016 onwards .Outlook for 2016 remains unchanged - group's operating result ex. items to be slightly positive in 2016.  Full Article

Stockmann May sales down 2.7 pct
Monday, 13 Jun 2016 06:00am EDT 

Stockmann Oyj Abp :Stockmann group's sales in May were down by 2.7 percent and amounted to 97.7 million euros in continuing product areas and businesses.  Full Article

Stockmann January-April sales down 2.5 pct y/y
Thursday, 12 May 2016 05:00am EDT 

Stockmann Oyj Abp : Says sales in April were up by 26.8 percent and amounted to 118.5 million euros in continuing product areas and businesses, growth due to timing of Crazy Days campaign .Says January-April sales fell 2.5 percent from a year ago to 359.8 million euros.  Full Article

Finland's Stockmann to divest mail order business
Thursday, 28 Apr 2016 12:59am EDT 

Stockmann Oyj Abp:Says to sell Hobby Hall business to Finnish SGN Group.says the transaction price is not expected to have a significant effect on Stockmann's result.Hobby Hall's 2015 revenue was EUR 86 million, operating result EUR -5.7 million.  Full Article

Stockmann CEO Thelin leaves the company
Monday, 4 Apr 2016 02:30am EDT 

Stockmann Oyj Abp:Says Chief Executive Officer Per Thelin leaves Stockmann.Says board of directors have jointly agreed that Thelin will leave his position on fourth of April 2016.Says Lauri Veijalainen, Chief Financial Officer, has been appointed interim CEO of Stockmann.Says has initiated a process for searching a new CEO.  Full Article

UPDATE 1-Finnish retailer Stockmann names Veijalainen as CEO

HELSINKI, Sept 12 Finnish retailer Stockmann appointed its interim chief executive Lauri Veijalainen as the company's new CEO on Monday.