Key Developments: Stockmann Oyj Abp (STCBV.HE)

STCBV.HE on Helsinki Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Stockmann Oyj Abp announces changes in Chief Executive Officer position
Tuesday, 26 Aug 2014 01:30am EDT 

Stockmann Oyj Abp:Hannu Penttila has informed the Board of Stockmann plc that he will step down from his position as the Chief Executive Officer (CEO) on Aug. 26.Hannu Penttila will retire on Dec. 31, as announced earlier.Kaj-Gustaf Bergh, Chairman of Stockmann’s Board, will act as temporary CEO for the time being, while also taking care of his usual tasks.  Full Article

Stockmann Oyj Abp reaffirms FY 2014 guidance
Wednesday, 13 Aug 2014 01:00am EDT 

Stockmann Oyj Abp:Says FY 2014 euro denominated revenue to decline compare to FY 2013.Says the Group's operating profit in FY 2014 is expected to be significantly weaker than in FY 2013.Reported revenue of 2,037 million euros and EBIT of 54.40 million euros in FY 2013.  Full Article

Stockmann revises FY 2014 outlook
Thursday, 12 Jun 2014 06:00am EDT 

Stockmann Oyj Abp:Revises FY 2014 outlook.Estimates operating profit in FY 2014 to be significantly weaker than in FY 2013 if a considerable change in the market environment will not take place during H2.Earlier expected euro-denominated revenue in FY 2014 to decline on FY 2013 and operating profit not to exceed the figure for FY 2013.Reported revenue of 2,037 million euros and EBIT of 54.40 million euros for FY 2013-Thomson Reuters.FY 2014 revenue 1,966 million euros, EBIT 44.16 million.  Full Article

Stockmann cuts 180 jobs in department stores
Tuesday, 3 Jun 2014 01:30am EDT 

Stockmann Oyj Abp:Concludes codetermination negotiations in department stores.Number of jobs at the department stores will be reduced by 180, including 110 redundancies.Number of customer service personnel in the online stores will not be reduced.Will implement new operating model, including centralized administration and support services, reduced number of supervisors and work hours focused around the busiest hours of trading.Continues savings program to improve profitability in support functions.Aims to achieve additional annual savings of 7 million euros.Will launch codetermination negotiations potentially affecting about 1,200 persons.Estimates personnel reduction at 180 persons.  Full Article

Stockmann Oyj Abp's CEO Hannu Penttila to retire
Friday, 23 May 2014 02:00am EDT 

Stockmann Oyj Abp:Says Chief Executive Officer Hannu Penttila has informed board of directors of Stockmann plc that he will retire on Dec. 31.Hannu Penttila’s term was extended until further notice in spring 2013, as he had reached retirement age specified in his service agreement.  Full Article

Stockmann Oyj Abp revises profit guidance for FY 2014
Tuesday, 29 Apr 2014 01:00am EDT 

Stockmann Oyj Abp:Says, due to the weak currency exchange rates and weaker than expected consumer demand in Russia and Finland, Stockmann estimates that the Group’s euro-denominated revenue in FY 2014 will decline on 2013.Operating profit for FY 2014 is not expected to exceed the figure for 2013.Stockmann previously estimated that the Group’s revenue, at comparable exchange rates, would increase slightly in FY 2014.Revenue growth was expected to take place in the second half of the year.Operating profit was expected to be somewhat higher than in 2013.FY 2014 revenues at 2,008 mln euros (FY 2013: 2,037 mln euros)-Thomson Reuters I/B/E/S.  Full Article

Stockmann Oyj Abp to revise its department stores' operating model in Finland
Tuesday, 15 Apr 2014 01:30am EDT 

Stockmann Oyj Abp:Says it is to revise its department stores' operating model in Finland.Says restructuring will create an organization focused on sales and customer service.Says the comparable annual savings target for the structural changes is around 10 million euros.Says the savings would be fully achieved beginning from 2015.  Full Article

Stockmann says Lindex' franchising agreement in China is canceled
Thursday, 20 Mar 2014 09:30am EDT 

Stockmann Oyj Abp:Says Lindex’s franchising agreement signed in Sep. 2013 with a Chinese company Suning has been cancelled.Says Suning has unilaterally withdrawn from the franchising agreement.Stockmann and Lindex will evaluate the legal consequences of Suning’s announcement.Lindex is a subsidiary of Stockmann.  Full Article

Stockmann names Kaj-Gustaf Bergh Chairman; announces FY 2013 dividend details
Tuesday, 18 Mar 2014 10:45am EDT 

Stockmann Oyj Abp:Elects Kaj-Gustaf Bergh as Chairman of the Board.Adopts proposed dividend of 0.40 euro per share for FY 2013.Record date March 21.Dividend payment date April 16.  Full Article

Stockmann Oyj Abp proposes FY 2013 dividend; issues FY 2014 outlook
Thursday, 13 Feb 2014 01:00am EST 

Stockmann Oyj Abp:Says the Board of Directors proposes that a dividend of 0.40 euros per share be paid for the financial year 2013.Says the record date for the dividend distribution is Mar. 21.Says the Board of Directors proposes that the dividend be paid out on Apr. 16.Sees, at comparable exchange rates, the Group’s revenue to increase slightly in 2014 (2013 revenues: 2,037 mln euros).Says revenue growth is expected to take place in the second half of the year.Fiscal year 2014 revenues 2,095 mln euros - Thomson Reuters I/B/E/S.Sees fiscal year 2014 operating profit to be somewhat higher than in 2013.Says the first-quarter operating result will be negative due to normal seasonal variation.  Full Article

BRIEF-Stockmann cuts 2014 profit outlook

Oct 14 - Stockmann Oyj Abp : * Group's new profit guidance for 2014, revenue in September and the Crazy Days

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