Lindex Group: Swedish clothing market continued to rise slightly in September

Translation: Original published in Finnish on 10/10/2024 at 7:40 am EEST.

Source: Svensk Handel *Inderes’ estimate

The September figures for the Swedish clothing market were published this morning. September sales increased by 1%. Due to minor changes made earlier in the year, the cumulative figure for the year was not published, but we also estimate it to be around 1%.

Sweden accounts for more than half of the Lindex chain’s sales

Sweden is Lindex's largest market and accounts for more than half of the sales of the Lindex chain (but not the whole group which is also called Lindex). Our Q3'24 revenue forecast for the Lindex segment is approximately 1% growth in local currencies. The Swedish market grew by just under 2% in Q3, slightly better than our forecast. However, this does not lead to any significant changes in our forecasts and, on the other hand, the market development in Finland has been weaker than we expected in July-August (which affects the Stockmann segment). The development of SEK and NOK, which together account for around 70% of the Lindex segment’s sales, also affects the company’s figures. The FX impact this year is clearly lower than in previous years and is not expected to be significant in Q3’24 (+1% in our forecasts).