Finnish retailer Stockmann forecasts revenue of €940–€1,000 mn in FY23

19 Jul '23

1 min read

Pic: Stockmann

Insights

Amid inflationary pressures, Finnish retailer Stockmann Group has revised its fiscal 2023 forecast to €940-€1,000 million in revenue.
The company's projection for adjusted operating result has been revised to €65-€85 million.
The revised forecast signifies a slight dip in expected revenues compared to Stockmann's earlier projection of €960-€1,020 million.

Stockmann, a Finland-based international retail conglomerate, has revised its financial forecast for fiscal 2023 (FY23). Amid ongoing inflationary pressures, the group now anticipates revenues in the range of €940-€1,000 million and an adjusted operating result between €65-€85 million, both subject to foreign exchange rate fluctuations.

The new guidance comes as the company acknowledges the continuing high inflation's potential to increase costs from 2022 and negatively impact consumer demand, Stockmann group said in a press release.

This revised forecast signifies a slight dip in expected revenues compared to Stockmann's earlier projection of €960-€1,020 million. On the other hand, the updated operating result estimate marks an increase from the previously anticipated range of €60-€80 million.

Fibre2Fashion News Desk (DP)

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