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BRIEF-Stockmann downgrades outlook for 2017 adjusted operating profit
September 26, 2017 / 5:38 AM / 2 months ago

BRIEF-Stockmann downgrades outlook for 2017 adjusted operating profit

Sept 26 (Reuters) - STOCKMANN OYJ ABP

* STOCKMANN GROUP‘S REVISED GUIDANCE FOR 2017 AND OUTCOME OF IMPAIRMENT TEST

* ‍PROFIT GUIDANCE FOR YEAR HAS BEEN CHANGED DUE TO WEAKER THAN ESTIMATED PERFORMANCE IN LINDEX‘S BUSINESS.​

* ‍EXPECTS GROUP‘S REVENUE FOR 2017 TO DECLINE DUE TO WEAKER SALES DEVELOPMENT OF LINDEX, CHANGES IN STORE NETWORK AND PRODUCT MIX​

* ‍ADJUSTED OPERATING PROFIT IN CONTINUING OPERATIONS IS EXPECTED TO BE APPROX. ON A PAR WITH OR SLIGHTLY WEAKER THAN IN 2016​

* PREVIOUYSLY EXPECTED ‍ADJUSTED OPERATING PROFIT TO IMPROVE, COMPARED WITH 2016.​

* TO RECOGNISE APPROX. EUR 150 MILLION IN IMPAIRMENT RELATED TO LINDEX‘S GOODWILL IN ITS Q3 CONSOLIDATED INCOME STATEMENT​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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