Stockmann: Swedish clothing market grew by 1% in June
Av Rauli Juva
Translation: Original comment published in Finnish on 7/11/2023 at 8:31 am.
Source: Svensk Handel ,*Inderes’ estimate
The June figures for the Swedish clothing market were published this morning. The clothing market grew by 1% in June from last year. Comparison figures for 2019 levels are no longer published, but the comparison figure for June 2022 (vs. 2019) was good (7% above 2019 levels), so compared to this we feel growth is a good performance. During January-June, the market grew by 2%.
Sweden accounts for more than half of Lindex’s sales
Sweden is Lindex's largest market and generates more than half of Lindex's sales. Our estimate for Lindex’s Q2'23 revenue expects a 7% decrease, depressed by weaker SEK and NOK than in the comparison period as they represent around 2/3 of Lindex’s sales. At current exchange rates, SEK is about 8% weaker and NOK is over 10% weaker. The positive development of the Swedish market during Q2 has been slightly better than we expected, but on the other hand, currencies have continued to weaken during the quarter, so we see no need to change our estimates in EUR.
Lindex Group
2,07
2,35
Öka
Lindex Group är verksamt inom detaljhandelsbranschen. Idag förvaltar koncernen över ett flertal butiker runtom större köpcentrum samt större kommersiella lokaler lokaliserade på den nordiska marknaden. Koncernen är återförsäljare av ett flertal varumärken och utbudet består av skor och tillhörande accessoarer. Bolaget har sitt huvudkontor i Helsingfors.
Read more on company pageKey Estimate Figures2023-05-02
| 2022 | 23e | 24e |
|---|
| 2022 | 23e | 24e | |
|---|---|---|---|
| Omsättning | 981,7 | 980,5 | 975,0 |
| tillväxt-% | 9,2 % | −0,1 % | −0,6 % |
| EBIT (adj.) | 79,8 | 79,6 | 68,0 |
| EBIT-% | 8,1 % | 8,1 % | 7,0 % |
| EPS (adj.) | 0,32 | 0,23 | 0,18 |
| Utdelning | 0,00 | 0,00 | 0,00 |
| Direktavkastning | |||
| P/E (just.) | 6,1 | 11,6 | 14,8 |
| EV/EBITDA | 3,0 | 5,2 | 5,1 |
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