Finnish department store and fashion chain group Stockmann on Thursday put its flagship Helsinki department store property and other real estate assets forward as collateral for a €650m ($765m) refinancing package.
Lindex, Stockmann’s troubled fashion operation, is continuing to drag down the results of its parent company, the firm said Friday. While Stockmann’s own turnaround is progressing, albeit slowly, Lindex is struggling.
The retail group saw sales under the Stockmann and Lindex brands grow 1.6% in December, as it readies the transfer of its Russian department store operations to Reviva Holdings Limited on February 1st.
A year after the discontinuance of SLVR, Adidas returns to premium sportswear with Standard 19. On August 1st the brand will launch this new 32-item line, riding the top-of-the-range, training-workout trend.