Lindex Group: Swedish clothing market grew by 5% in May
By Rauli Juva
Translation: Original comment published in Finnish on 6/12/2024 at 7:38 am EEST.
Source: Svensk Handel *Inderes’ estimate
The May figures for the Swedish clothing market were published this morning. Sales in May were up 5%, supported as expected by favorable spring/summer weather after a soft April. For the year to date, the increase is 2%.
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 Q2'24 revenue forecast for the Lindex segment is 4% growth in local currencies. Despite a good May, the April-May evolution is an increase of just over 2%, so the market development in Sweden puts a slight downward pressure on the forecast. The development of SEK and NOK, which together account for around 70% of the Lindex segment’s sales, also affects the company’s figures. However, the FX impact will clearly decrease this year at current exchange rates and will not be significant in Q2'24.
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Lindex Group
3.3
3.50
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Lindex Group operates in the retail industry. The Group manages a number of stores around larger shopping centers and commercial premises located in the Nordic market. The Group is a reseller of several brands and the range consists of shoes and associated accessories. The company is headquartered in Helsinki.
Read more on company pageKey Estimate Figures29.04.
| 2023 | 24e | 25e | |
|---|---|---|---|
| Revenue | 951.7 | 971.8 | 992.0 |
| growth-% | -3.06 % | 2.11 % | 2.08 % |
| EBIT (adj.) | 80.1 | 76.1 | 77.0 |
| EBIT-% (adj.) | 8.42 % | 7.83 % | 7.76 % |
| EPS (adj.) | 0.16 | 0.20 | 0.22 |
| Dividend | 0.00 | 0.00 | 0.09 |
| Dividend % | 3.33 % | ||
| P/E (adj.) | 18.05 | 13.36 | 12.23 |
| EV/EBITDA | 5.56 | 5.56 | 4.80 |
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