Lindex news and archive

Finland’s Stockmann changes name to Lindex Group

Finnish department store retailer Stockmann Oyj Abp has announced that it has officially changed its trade name to Lindex Group Oyj, a title that has been registered in the country’s trade register. As such, the company will also be changing its ticker in the Nasdaq Helsinki’s trading system, with its current trading code of the share, Stocks,...

BusinessFeatured

Where are they now? A look back on the innovation journey of 4 brands

It is well understood that extending the life of a garment is considered one of the most effective ways to reduce the overall impact of the clothing industry. Why? Firstly, optimising the use of clothing can contribute to a decrease in production and consumption of new garments and secondly, it can reduce the growing volumes of textile waste...

Report

Stockmann reports Q3 revenue, profit growth

Finnish fashion group Stockmann has reported revenue and profit growth in the third quarter of the year, driven by a strong performance at its Lindex brand. In the three months to September 30, the group’s consolidated revenue came in at 237.8 million euros, a 12 percent increase from a year earlier at comparable currency rates. Its operating...

Report

Lindex owner Stockmann reports Q2 revenue, profit growth

Finnish fashion group Stockmann has reported a 21.4 percent increase in consolidated revenue to 228 million euros in the second quarter of the year. For the three months to June 30, the group reported an operating profit of 26.3 million euros compared to a loss of 0.4 million euros a year earlier, and an adjusted operating profit of 26.7 million...

Report

Stockmann to sell, lease back properties in restructuring plan

Finnish fashion group Stockmann has announced it will sell and lease back department store properties in its portfolio as part of its restructuring plan. The company announced Monday that its restructuring programme is based on the continuation of its department store operations and the sale and lease-back of department store properties located...

Report

Lindex owner Stockmann reports improved performance in Q3

Finnish fashion group Stockmann has reported improved trading in the third quarter amid the company’s ongoing cost-cutting strategy. For the three months to 30 September, the group reported an operating profit of 11.7 million euros compared to a profit of 2.1 million euros a year earlier. Consolidated revenue at the company fell 6.8 percent to...

Report

Stockmann-owned Lindex to launch cost-cutting programme, cut jobs

Stockmann-owned Lindex has announced cost-cutting measures and jobs cuts following a drop in Q2 revenue. The Swedish fashion chain will aim to reduce its costs globally by approximately 14.5 million euros, which it said will mainly be realized from 2021 onwards. “The savings will be achieved, among other things, by optimizing Lindex’s store...

Report

Lindex owner Stockmann swings to half-year loss following store closures

Finnish fashion group Stockmann has reported a half-year loss following store closures tied to the Covid-19 pandemic. The company reported a loss of 3.1 million euros, compared to a profit of 10.2 million euros for the first half of last year. Its revenue for the period was 182.7 million euros, down 23.2 percent from last year. However, the...

ManagementFeatured

Lindex owner Stockmaan files for corporate restructuring

Finnish fashion group Stockmann is filing for corporate restructuring after experiencing a “significant” impact from the Covid-19 pandemic. The group, which owns Swedish fashion chain Lindex, said it has made “continued strong growth” on its online stores since the beginning of March, but that has not been enough to offset a “drastic decline” in...

Fashion

Lindex to support 350 female cotton farmers through new project

Swedish fashion chain Lindex has collaborated with CottonConnect on a project which aims to train and educate 350 female cotton farmers to work in a more circular way. The two-year 'Women in Cotton' project, which Lindex is funding, will help women from tribal areas in India transition from conventional farming to organic farming. They will also...

Fashion Featured

Switching Gear: Inside the first masterclass of Circle Economy’s new circularity project

Circularity is one of the most important topics in the fashion industry at the moment, as brands, suppliers and manufacturers alike look to remedy the industry’s issue of excessive waste. According to research by the Ellen Macarthur Foundation, global clothing production has approximately doubled in the past 15 years, while the average duration...

Fashion Featured

Lindex launches sustainability promise

Swedish fashion retailer Lindex has launched a new sustainability promise to “make a difference for future generations” that will focus on three areas, to empower women, to respect the planet and to ensure human rights. The sustainability promise has been developed with the fashion brand’s vision “to empower and inspire women everywhere – as a...