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Extensive research

Stockmann (Initiation of Coverage): Department stores still a source of grief

By Rauli JuvaAnalyst
Lindex Group
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We expect Lindex's result to fall from the exceptionally high level in recent years and department stores to remain clearly cash flow negative in coming years, resulting in a cash-adjusted P/E of about 12x in 2023-24. We believe this is a neutral level and do not expect significant earnings growth even in the medium term. Lindex's large logistics investment in 2022-23 will reduce the company's net cash and we do not expect dividends for the next few years.

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Lindex Group operates in the retail sector. The Group manages a number of stores in major shopping centres and large commercial premises located throughout the Nordic market. The Group is a retailer of several brands and the range consists of clothing, shoes and related accessories. The company has its headquarters in Helsinki.

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Forum discussions

What will Lindex announce at the end of the year? Stockmann will be listed on the stock exchange Stockmann will be sold to party X Stockmann...
yesterday
by Latela
2
Based on my own observation when I visited the food market almost daily for 4 months recently - the number of visitors on the department store...
yesterday
by minisijoittaja
10
Lindex expands in Denmark and opens a second store about.lindex.com Lindex expands in Denmark and opens new store in Odense Lindex is taking...
12/11/2025, 3:28 PM
by Kelmeelä
21
Lindex last distributed dividends in 2013. Lindex’s dividend policy is: “The Board of Directors of Lindex Group Plc has set a dividend distribution...
12/5/2025, 7:31 PM
by Tiloski
3
Last year, on December 17th, the deadline for the strategic review was moved to the first half of 2025. In a news item on June 27, 2025, KL ...
12/5/2025, 6:35 PM
by Tnokka
10
Where are Lindex’s strategic solutions? An IPO on the Stockholm Stock Exchange early in the year to boost e-commerce and develop the business...
12/5/2025, 1:34 PM
by hawk_
6
Recommend this (paid) article Riku Lyly ja ennakkoluuloton uusi Stockmann
12/1/2025, 5:27 PM
by Nicolas
4
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