Lindex Group: Swedish clothing market remained at the level of the comparison period in April

Translation: Original comment published in Finnish on 5/14/2024 at 8:07 am EEST.
The April figures for the Swedish clothing market were published this morning. According to the release, sales in April were at the same level as in the comparison period, due to factors such as the cold weather and the weak economy. For the year to date, the increase is 1.4%.
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 division (but not the whole group which is also called Lindex). Our Q2'24 revenue forecast for the Lindex segment is 4% growth in local currencies. Accordingly, the market performance in Sweden in April is somewhat weaker than expected and puts some downward pressure on the forecast, even though the quarter has only just started. The development of SEK and NOK, which together account for around 70% of the Lindex segment’s sales, also affects the company’s figures. However, the FX impact will clearly decrease this year at current exchange rates and will be only slightly negative in Q2'24 in the figures reported by Lindex.
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