Stockmann: Swedish clothing market grew by 5% in February
Translation: Original comment published in Finnish on 3/13/2024 at 7:20 am EET.
Source: Svensk Handel *Inderes’ estimate
The February figures for the Swedish clothing market were published this morning. February's growth was supported by one extra day due to the leap year. The growth rate at the beginning of the year is just under 3%.
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 forecast for Lindex's Q1'24 revenue is 4% growth in local currencies, close to the January-February performance in Sweden. The development of SEK and NOK, which together account for around 70% of Lindex's sales, also affect the company’s figures. However, the FX impact will clearly decrease this year at current exchange rates and will be only slightly negative in Q1'24 in the figures reported by Stockmann.
Lindex Group
Lindex Group operates in the retail industry. The Group manages a number of stores around larger shopping centers and commercial premises located in the Nordic market. The Group is a reseller of several brands and the range consists of shoes and associated accessories. The company is headquartered in Helsinki.
Read more on company pageKey Estimate Figures11.02
| 2023 | 24e | 25e | |
|---|---|---|---|
| Revenue | 951.7 | 975.5 | 992.0 |
| growth-% | -3.06 % | 2.50 % | 1.69 % |
| EBIT (adj.) | 80.1 | 76.8 | 77.0 |
| EBIT-% (adj.) | 8.42 % | 7.87 % | 7.76 % |
| EPS (adj.) | 0.16 | 0.22 | 0.22 |
| Dividend | 0.00 | 0.00 | 0.09 |
| Dividend % | 3.27 % | ||
| P/E (adj.) | 18.05 | 12.14 | 12.23 |
| EV/EBITDA | 5.56 | 5.50 | 4.78 |