January 11, 2018 / 2:45 PM / a month ago

Finnish retailer Stockmann misses 2017 profit guidance

HELSINKI, Jan 11 (Reuters) - Finnish deparment store chain Stockmann will not reach its profit guidance for 2017 due to weak sales in the fourth quarter, the company warned on Thursday.

Stockmann said its comparable core operating profit for the full year would be around 12 million euros ($14 million), down from 31 million euros in 2016.

The company had previously estimated the profit to be flat or slightly smaller compared to 2016.

Shares in the company were down 1.8 percent after the announcement. ($1 = 0.8309 euros) (Reporting by Tuomas Forsell, editing by Jussi Rosendahl)

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