Strong first quarter for Lindex with continued growth and increased profitability
Today, Lindex presents its interim report for the first quarter of 2022 and reports a strongly improved result with continued growth.
Lindex's operating result* for the first quarter of 2022 increased by 182 MSEK and amounted to 36 MSEK, which is a very strong first quarter for the fashion company (-146 MSEK 2021). Lindex's operating result for the past twelve months increased by 451 MSEK and amounted to 876 MSEK (425 MSEK).
‘We continue our fantastically good sales and result development and report a very strong start to the year and first quarter for 2022. Our strong development, in recent years, is a fine proof of our ability to meet our customers' needs and wishes in an everchanging time, where all employees' fantastic commitment is a key to our success’, says CEO Susanne Ehnbåge.
Lindex's sales during the first quarter increased by 36.3 per cent in local currencies and by 35.7 per cent in SEK. Compared with the same period in 2019, before the pandemic, sales increased by 18.7 per cent in local currencies and Lindex shows better sales growth than the market in all the Nordic sales countries.
Lindex's sales in the physical stores increased by 47.6 per cent during the quarter compared with the same period last year. The fashion company continued its digital growth with a sales increase of 8.2 per cent during the quarter. In total, the digital sales amounted to 23.6 per cent of Lindex's total sales, which is an increase of 660 per cent compared to 2019.
‘It is really gratifying that we have such strong sales growth in our physical stores at the same time as our digital sales continue to increase. We are increasing our sales for all our business areas, where womenswear is increasing the most, with a growth of as much as 52 per cent compared with the same period last year. Our strong growth shows that our customers appreciate our offer, our efforts and the possibility to shop in a simple and flexible way, when and where they want’, says Susanne Ehnbåge.
During the first quarter, Lindex released its sustainability report for 2021, which describes the company's significant progress in keeping its sustainability promise as well as the fashion company's challenges and major transformation. Lindex also took further steps during the quarter and scaled up its second-hand offering.
‘Our business is growing in new ways, where circular business models and continued development of our customer offer with new services are important parts of our transformation to a more sustainable business and for our long-term growth. We have high ambitions to grow both sustainably and profitably and where our investments going forward are crucial. We plan for large investments in our logistics and continue our digital investments in all parts of our business. Reaching new markets as well as developing our existing ones is part of our growth strategy and our continued journey as a global, brand-led and sustainable fashion company’, says Susanne Ehnbåge.
* Lindex's operating result is reported excluding 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.
