Finnish retailer Stockmann sees better times ahead

Reuters

HELSINKI – Finnish premium department store chain Stockmann on Friday posted a rise in fourth-quarter earnings and said it expected the positive development to continue as long as no major COVID-19 restrictions are imposed anymore.

The 160-year-old retailer, which has gone through heavy cost cutting and debt management, said its October-December operating profit was 50.6 million euros ($56.8 million), up from a loss of 256 million in the same quarter a year ago.

($1 = 0.8913 euros)

(This story corrects dateline to February 25 from February 24)


(Reporting by Anne Kauranen; Editing by Shri Navaratnam)


tagreuters.com2022binary_LYNXMPEI1O08V-BASEIMAGE

You appear to be using an ad blocker

Shore News Network is a free website that does not use paywalls or charge for access to original, breaking news content. In order to provide this free service, we rely on advertisements. Please support our journalism by disabling your ad blocker for this website.