Add to favorite
 
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Stockmann Closes Its Stores
27.02.2015 17:27
Stockmann Closes Its Stores

The Finnish Stockmann retailer planned to close three of its eight stores with the same name in Russia.

      It is planned to close Stockmann department stores located in MEGA shopping centres in Moscow Oblast by the end of 2016. After that  the company intends to focus on the development of the remaining two stores of Stockmann in Moscow located close to the city centre, as well as in St. Petersburg and Yekaterinburg.

      In addition, Stockmann Group intends to close a network of 19 stores of the Lindex brand (in Russia) belonging to it. Such measures are taken by Stockmann within the program of costs reduction with the purpose of reducing annual costs by 50 million euros. The revenue of Stockmann in 2014 fell by 9.4 percent compared with the previous year - down to 1.8 billion euros. Besides, the net loss grew twofold. In August of last year Stockmann announced the closure of up to 80 percent of stores in Seppala network of clothes stores in Russia belonging to the Group until the end of 2014. The reason was their unprofitability. The company expects to close the remaining 16 stores until 2016.


Sources: http://lenta.ru 


Author: Anna Dorozhkina

Tags: Stockmann     

Next Previous


You might also find interesting:

The Level of Competition in Russia Increased for the First Time during Four Years
23.04.2019
"Pobeda" has Become the Fourth Largest Russian Company
27.01.2019
Vkontakte Launched New Service for Businessmen
31.10.2018
More than 600 Thousand Russian Enterprises Went out of Business in 2018
14.06.2019
Russian Buyers Prefer to Purchase Food Products with the Marks about Natural Origin
26.08.2019







Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

search on the map
TAGS:
Moscow monuments  protest actions  Book Tickets for Concerts  Merchants  oceanic research  animal-assisted therapy   Ska All Stars  AvtoVAZ   St. Petersburg  Festivals in Moscow  Christ the Saviour Cathedral  Russian Cinema  Russian Bears  Volgograd Region  Zaryadie Park  Russian startups  Exhibitions in Moscow  Moscow manors  Russian regions  Russian actions  ISS  Veliky Novgorod  Russian business  Fyodor Dostoevsky  Igor Stravinsky  Russian Monuments  Russian tourism  Moscow  Mercedes-Benz Fashion Week Russia  International Music Day  Moscow Multimedia Art Museum  CSE  Vera Yermolaeva  Vologda region  Vladivostok  Russian Architecture  Marina Kaverzina  space  Film Festivals  Fires  Kazan  Unusual Monuments  Alexey Navalny  Konstantin Ernst  travel to Russia  Hot Cool Yours  Aurora cruiser  Russian journalists  Vasily Pichul  Tula Region 


Travel Blogs
Top Traveling Sites