February 15, 2017 / 6:16 AM / 5 months ago

BRIEF-Stockmann Q4 adj. EBIT EUR 36.5 million, above estimates

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Feb 15 (Reuters) - Stockmann Oyj Abp:

* Q4 revenue 388.4 million euros ($410.89 million) versus 387 million euros seen in Reuters poll

* Q4 adjusted EBIT 36.5 million euros (Reuters poll: 29.3 million euros)

* Sees group's revenue for 2017 to decline due to changes in store network and product mix

* 2017 adjusted operating profit is expected to improve, compared with 2016

* Says due to normal seasonal variation, Q1 operating result will be negative

* Sees capital expenditure in 2017 to be about 45 million - 50 million euros, which is less than estimated depreciation for the year

* Will propose no dividend to be paid on the 2016 result

* Will open a new department store in Tapiola in March

* Considers divesting Nevsky Centre shopping centre in St Petersburg, investigation of possibility is in progress Source text for Eikon: Link to Reuters poll: Further company coverage: ($1 = 0.9453 euros) (Gdynia Newsroom)

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