Continued sales growth for Lindex with strengthened digital share
Today, Lindex presents its interim report for the first quarter of 2024 and reports continued sales growth in both physical stores and digital channels.
Lindex’s sales during the first quarter increased by 2.7 per cent in local currencies and by 4.0 per cent in SEK. The fashion company continued its growth in physical stores with an increase of 1.8 per cent compared to the same period previous year. The digital sales increased by 8.9 per cent during the quarter, accounting for 22.9 per cent of Lindex’s total sales (21.6 per cent 2023).
‘We continue our good sales growth in the first quarter and increase sales in both our physical stores and digital channels, with a strengthened digital share. Womenswear was our strongest business area with a sales increase of 7.4 percent. It is also pleasing to note that we gain further market shares and continue growing with both new and active customers, as well as increasing the average purchase value, despite times of reduced purchasing power. Additionally, during the quarter, we have strengthened our presence and growth potential through partnerships’, says CEO Susanne Ehnbåge.
The fashion company’s adjusted operating result* for the first quarter amounted to 47 MSEK (62 MSEK 2023). Lindex’s sales growth had a positive impact on the result, but increased freight costs, due to the situation in the Red Sea, affected the result negatively compared to the same period previous year. Lindex’s operating result* for the first quarter of 2024 amounted to 86 MSEK (62 MSEK 2023).
Lindex has released its sustainability report for 2023 during the first quarter, describing the fashion company’s significant progress as well as challenges, along with the extensive transformation that marks the entire company.
‘We continue our transformation into a more sustainable business and accelerate our progress in fulfilling our sustainability promise. I am proud of what we have managed to achieve so far, including our efforts in materials and reducing climate impact, where we decreased our total emissions by 21 per cent last year and by 41 per cent compared to the base year of 2017, despite strong sales growth. We have raised the ambition further and applied for a new science based target goal that also includes the entire Lindex Group. To continue achieving our goals and reducing our climate footprint, we are taking actions across almost all aspects of our business. The key cornerstones are reducing energy consumption and transitioning to renewable energy in our supply chain. Other important parts include continuing to explore and scale circular business models as well as focusing on material innovation’, says CEO Susanne Ehnbåge.
The fashion company’s investments for its continued global, digital and sustainable growth are progressing at full speed, just as the digital transformation, where Lindex is building a strong foundation for efficiency, flexibility and innovation.
‘As part of our continued journey and transformation, we are conducting many important launches throughout the year to accelerate our growth efficiently. A crucial step is the implementation of our new highly automated omnichannel distribution centre, which we are planning and looking forward to putting into operation during the autumn. We are also working intensively on our digital store program, including the rollout of a new mobile POS system and RFID technology, to further enhance the customer experience. Additionally, we are focusing on digitalising our supply chain to increase flexibility and reduce lead times. Indeed, there are many significant milestones that we are approaching with great enthusiasm and commitment. Through our collective efforts and innovative spirit, we strive for an even more successful future, where we not only accelerate our growth but also strengthen our position as a global, brand-driven, and sustainable fashion company’, says CEO Susanne Ehnbåge.
*Lindex's operating result is reported including IFRS16 leasing agreements.
For more information, please contact:
Kristina Hermansson
Senior PR & Communications Manager
Phone: +46 (0)31 739 50 70
E-mail: press@lindex.com
Lindex is one of Europe's leading fashion companies, with approximately 440 stores in 18 markets and sales online worldwide through third-party partnerships. Lindex offers inspiring and affordable fashion and the assortment includes several different concepts within womenswear, kidswear, lingerie and cosmetics. Lindex is growing, both in own channels and together with global fashion platforms. Lindex’s higher purpose is to inspire and empower women everywhere, and Lindex’s sustainability promise is to make a difference for future generations by empowering women, respecting the planet and ensuring human rights. Lindex is a fully owned subsidiary of Lindex Group plc. Further information is available at www.lindex.com.
