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Lindex Group: Good July in the Swedish clothing market

LINDEXAnalyst Comment14.08.2025 klo 08.52

Rauli JuvaAnalyst

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Development of the Swedish clothing market

Lindex Heinäkuu

Source: Svensk Handel *Inderes’ estimate

Translation: Original published in Finnish on 8/14/2025 at 8:19 am EEST.

The July figures for the Swedish clothing market were published this morning. According to Svensk Handel, sales were up 4% from last year. July is admittedly discount-led, but the growth figure is still positive. The market is, in our assessment, also in slight growth for the full year.

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 Q3'25 revenue forecast for the Lindex segment is approximately 3% growth in local currencies. The company stated in connection with its Q2 results that it expects demand to pick up in the latter part of the year. July's development was thus in line with our estimates. 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 is currently seen as slightly positive for the rest of the year. For the entire Group, Lindex has guided for 0-4% growth in local currencies this year, while H1 development was still -1%.