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Stockmann Oyj Abp (STCBV.HE)

STCBV.HE on Helsinki Stock Exchange

6.85EUR
11:29am EDT
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€0.20 (+3.01%)
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€6.65
Open
€6.78
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€6.90
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€6.76
Volume
17,493
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46,468
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€8.00
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€5.06

Latest Key Developments (Source: Significant Developments)

Kai Laitinen appointed Stockmann's chief financial officer
Wednesday, 15 Feb 2017 01:30am EST 

Stockmann OYJ ABP : Kai Laitinen appointed Stockmann's chief financial officer . Laitinen has most recently served as chief financial officer at Finavia OYJ .Laitinen will join Stockmann at latest in Aug..  Full Article

Stockmann Q4 adj. EBIT EUR 36.5 million, above estimates
Wednesday, 15 Feb 2017 01:00am EST 

Stockmann Oyj Abp : Q4 revenue 388.4 million euros ($410.89 million) versus 387 million euros seen in Reuters poll . Q4 adjusted EBIT 36.5 million euros (Reuters poll: 29.3 million euros) . Sees group's revenue for 2017 to decline due to changes in store network and product mix . 2017 adjusted operating profit is expected to improve, compared with 2016 . Says due to normal seasonal variation, Q1 operating result will be negative . Sees capital expenditure in 2017 to be about 45 million - 50 million euros, which is less than estimated depreciation for the year . Will propose no dividend to be paid on the 2016 result . Will open a new department store in Tapiola in March .Considers divesting Nevsky Centre shopping centre in St Petersburg, investigation of possibility is in progress.  Full Article

Stockmann sales in November down by 7 pct
Tuesday, 13 Dec 2016 05:00am EST 

Stockmann Oyj Abp :Says sales in November were down by 7.0 per cent and amounted to 90.9 million euros ($96.5 million) in continuing product areas and businesses..  Full Article

Stockmann transfers part of its ict activities to Tech Mahindra
Wednesday, 2 Nov 2016 03:04am EDT 

Stockmann Oyj Abp : Transfers part of its ICT activities to Tech Mahindra . 33 of Stockmann's current ict employees are planned to transfer to Tech Mahindra on Jan. 1 2017 . Target of planned changes is to reduce Stockmann's ICT costs by about 4 million euros ($4.4 million) annually from 2018 onwards. .Has signed a five-year cooperation agreement with Tech Mahindra to produce part of Stockmann's ICT services.  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

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