CEO’s review

CEO Susanne Ehnbåge, Lindex Group’s Interim Report Q3 2025, published on 24 October 2025.

The key highlight of the third quarter was the conclusion of Lindex Group’s five-year long corporate restructuring programme. We reached this significant milestone on 15 August 2025 and are now well-positioned to develop our business on a long term and focus on achieving sustainable growth. When it comes to the strategic assessment of the Stockmann department store business, the Board of Directors continues to evaluate the strategic alternatives for the business. The outcome of this evaluation will be communicated during the fourth quarter.

A gradual improvement of consumer confidence continued during the third quarter in most of our key markets. This development was reflected also in the recovery of the fashion market, which represents the single biggest category of Lindex Group. The fashion market started to pick up during the quarter in our biggest home markets, which contributed positively to the Group’s revenue.

Lindex Group’s revenue increased to EUR 227.6 (222.1) million and adjusted operating result to EUR 16.6 (15.8) million during the third quarter. I am pleased that we were able to deliver growth, supported by the gradually recovering fashion market. In addition, we started the preparations for opening our first own store in Denmark, which supports well the strategic growth journey of the Lindex division.

The Lindex division’s third-quarter revenue was EUR 165.4 (159.3) million and adjusted operating result stood at EUR 20.2 (21.1) million. The Lindex division’s financial performance was impacted by a temporary technical issue at the new omnichannel distribution centre in August, which resulted in longer supply lead times, and impacted product availability in all our sales channels. The division’s supply capability was stabilised after the reporting period.    

The Stockmann division’s revenue was EUR 62.4 (62.9) million and its adjusted operating result improved to EUR -2.6 (-4.5) million. I am very pleased with the Stockmann division’s result improvement, which already marked the sixth consecutive quarter of improving results. The Stockmann division’s rolling 12-month adjusted operating result, EUR 0.9 million, was also the first positive rolling 12-month result for the division in many years. The team’s focused efforts on Stockmann’s strategic priorities paid off as the operational and cost efficiency measures improved profitability. In addition, Stockmann achieved a 14% increase in digital sales during the third quarter, supporting its strategic target to enhance digital commerce as the driver of Stockmann’s omnichannel performance.

Stockmann’s Crazy Days campaign, which was held after the reporting period, performed better than in the previous year. This is a great achievement, considering that Stockmann is today operating with seven department stores instead of the eight stores during the comparison period.

As we step into the holiday season, I’m filled with optimism and energy. This time of the year offers us a unique opportunity to shine – by delivering exceptional service, showcasing the best of what we offer, and creating moments that truly matter to our customers. Our success is built on the dedication and passion of our people. Together, we can make this season not only successful, but genuinely memorable.