Strong first quarter for Lindex reaching new result and sales levels
Today Lindex presents its interim report for the first quarter of 2023 and reports continued growth and improved result.
Lindex’s operating result* for the first quarter of 2023 amounted to 62 MSEK, which is an increase of 6.9 per cent compared with the same period previous year (58 MSEK 2022). Lindex’s operating result* for the past twelve months amounted to 965 MSEK which corresponds to an increase of 1.8 per cent (948 MSEK). The fashion company’s sales growth, with an improved margin and good cost control, contributed to the strengthened result development.
‘We are very pleased with our fine development during the first quarter. Despite the continued challenging world around us, we manage to further improve our result compared to last year’s very strong start and reach new result and sales levels. We increase our sales in our physical stores with a growth of 2.3 per cent and underwear was our strongest business area during the period with an increase of 14 per cent. With our inspiring and well-balanced assortment, as well as our employees’ fantastic engagement and big customer focus, we have continued to attract many new customers and further strengthened the Lindex brand’, says CEO Susanne Ehnbåge.
Lindex’s sales during the first quarter increased by 0.7 per cent in local currencies and with 1.0 per cent in SEK. The fashion company continued its growth in physical store with an increase of 2.3 per cent. The digital sales amounted to 21.6 per cent of Lindex’s total sales (22.9 per cent).
Lindex has during the first quarter released its sustainability report for 2022 which describes the fashion company’s significant progress within its sustainability promise as well as the company’s challenges and major transformation. Developing new sustainable business and growth opportunities is an important part of the fashion company's work and where Lindex's investment in femtech is an effort.
‘We have taken further steps with our femtech investment and expanded our product offering within our femtech brand Female Engineering. We see a great interest among our customers and look forward to presenting our upcoming innovations within this attractive growth market. As part of our continuous work with innovations and exploring new circular business models and services we have, among other things, piloted rental of ski clothes for kids. A smaller test which has been appreciated and where we together with our customers contribute to a changed behaviour. We have also initiated a digital programme which aims to change our way of thinking about our wardrobes and clothing choices. Developing our customer offers with new services is an important part in our transformation to a more sustainable business and our long-term growth. We have big ambitions going forward on our continued journey as a global, brand-led and sustainable fashion company where our investments and digital development are key factors’, says 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 STOCKMANN plc. Further information is available at www.lindex.com.
