Lindex Group: Swedish clothing market continued to grow in January

Source: Svensk Handel *Inderes’ estimate

Translation: Original published in Finnish on 2/14/2025 at 9:20 am EET.

The January figures for the Swedish clothing market were published this morning. Sales grew by 4%, continuing the positive sales growth seen at the end of last year. However, Svensk Handel, which publishes the statistics, points out that the comparison period was weak. 

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 Q1'25 revenue forecast for the Lindex segment is approximately 2% growth in local currencies. The market development in January is therefore slightly better than our forecast but does not call for any forecast changes at this stage. 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 currency impact is not expected to be significant this year, but we forecast it to be slightly negative in Q1'25 and positive thereafter. For the Group as a whole, Lindex has guided for growth of 0-4% in local currencies this year.

Sweden is also the main market for Björn Borg

Sweden is Björn Borg’s largest market, accounting for approximately 33% of the company’s total revenue. We estimate that the company will experience around 3% growth in the Swedish market in Q1’25, compared to 4% growth in the broader Swedish clothing market in January. While Björn Borg has yet to release its results for Q4’24, our forecast anticipates a 6% growth in the Swedish market. As a result, we expect the company to outperform the overall Swedish clothing market, which saw around 3% growth in Q4’24. The above-market growth will be largely driven by increased sales through the company's own e-commerce channel.