Progress in creating a new Stockmann – the company will accelerate its efficiency measures and appoint a new Management Team
STOCKMANN plc, Company Announcement 13.6.2016 at 13:00 EET Stockmann confirmed its new strategic direction at the end of 2014 and since then has been implementing its strategy in challenging market conditions. The company has made considerable changes to its operations and discontinued unprofitable businesses. These measures will improve Stockmann’s profitability during 2016. In spring 2015 Stockmann launched a large-scale efficiency programme. The programme will gradually have an impact on operating costs during 2016. It is anticipated that the annual savings target of EUR 50 million