Strong quarter for Lindex with sales growth and increased profitability
Lindex has presented its sales and result for the first quarter and reports a continued strong sales growth and increased profitability. The fashion company increased its total sales in SEK during the first quarter with 4.2 percent and with 2.8 percent in local currencies. The sales increased in all business areas. The strong sales development online continued with an increase of 40.9 per cent for the quarter.
It has been an eventful spring with the launch of several new concepts and collections that have been well received by its customers. “We continue our positive development and we have had a strong sales growth both in our physical stores and online. We have strengthened our margin through an increased share of full-price sales and reduced markdowns. We also have a well-balanced stock situation, with a lower stock than the previous year and a higher share of news,” says CEO Susanne Ehnbåge.
Lindex’s operating result for the first quarter increased by 31 MSEK and amounted to -131 MSEK (-162 MSEK). The increase is an effect of Lindex’s sales growth with increased gross margin and continued good cost control.
“Our strong result improvement reflects Lindex’s good growth and development. We have strengthened the profitability of our store network and we continue to grow digitally, both through our own channels and together with partners. We will also launch more exciting online collaborations ahead. Meeting our customer where she wants to be met and exceeding expectations builds our success as a globally strong brand,” says Susanne Ehnbåge.
Source: Lindex Headquarters- Gothenburg, SwedenEurope News