contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


stockmann-structural-change-main-topic-next-year

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Rauli Juva

Lindex Group operates in the retail sector. The Group manages a number of stores in major shopping centres and large commercial premises located throughout the Nordic market. The Group is a retailer of several brands and the range consists of clothing, shoes and related accessories. The company has its headquarters in Helsinki.

Recommend this (paid) article Riku Lyly ja ennakkoluuloton uusi Stockmann

It might be wishful thinking again, but I’ve been casually following Lindex’s online store from time to time. Among their best-selling products are full-price pajamas that seem to be selling like hotcakes, as well as Female Engineering’s underwear (these are, in my opinion, an important product/brand because they are something more than traditional competition with H&M and others. Big potential in Femtech). Regarding Stockmann, there’s news that Finns’ Christmas gift budget has grown from last year, after all, Finns have money sitting in their accounts. With these feelings, I’m holding onto my shares for now, even though, frankly, I don’t expect much from the strategic assessment.

Talouselämä – 15 Nov 25              Osta ja pidä -strategiassa täytyy myös myydä osakkeita – Kim Lindström:...    Sijoittajille suositellaan osta ja pidä -strategiaa. Konkarisijoittaja Kim Lindström ja pankkien asiantuntijat kertovat, missä tilanteissa strategiaa noudattavien kannattaa harkita osakkeiden myyntiä.                             Quote from Kauppalehti headline. The article mentions Lindex and Stokmann department stores. From the text: “Lindex will leave the portfolio as soon as the department store side is resolved.” Many investors probably think the same. Will there then be buyers for Lindex shares, which are presumably more expensive? I, and apparently many other investors, are waiting for Stokmann’s solution and a rise in the share price. Will many shares be put up for sale? Is the situation then “oversold or overbought”? Will the “multiples calculated solely on Lindex’s earnings” materialize? Or does the change/realization require Lindex to be listed on the Swedish stock exchange? The waiting time is long, in this case as well.

I agree with you, of course. I was mostly thinking about the perception of the companies from my perspective, that Nelly was viewed by consumers in a completely different way than they are today, so they have really managed to create a different consumer trust than before, something that Lindex might also be able to do and benefit from.

I have the impression that Lindex has that reputation you described in Finland as well. I don’t think Lindex itself is perhaps aiming for a very big change, but now that the strategic review is complete and the restructuring is out of the way, Lindex could, if it wished, invest in growth. I have mentioned this earlier in this thread, but let’s repeat Susanne’s comment about Lindex from 2019: “We have big goals for our future growth. We focus on growing both through our current business and by seeking new growth opportunities. China, among others, is a very interesting market where we see good opportunities and we intend to make Lindex’s online store available, says Susanne Ehnbåge.” Everyone knows what has happened since 2019, and several exceptional situations have shaped the strategy and measures. A lot can change in this regard in the near future. From Lindex’s history, it can be stated that growth and innovation are in the company’s DNA. P.S. Lindex and Nelly are very different companies. Nelly suffers at least clearly more from returns (online) and especially in the German market.

In Sweden, there has been a lot of talk about companies that have successfully made the transition that Lindex might want to make? I’m thinking of Nelly, New Wave, etc., but it might be tough to compare with the journey Nelly has managed to make. This morning I listened to a podcast in Sweden (Market Markers) that talked about Nelly in an interesting way and explained how hard they have worked to reduce the return rate, minimize wasted time in the warehouse, etc. It opened my eyes to how retail companies can improve their operations and thereby strengthen their results. Lindex has also been mentioned in various podcasts, where much of the focus has been on everything surrounding Stockmann, of course, but also on the fact that Lindex’s reputation in Sweden is changing. There’s more talk about Lindex being seen more for quality than quantity, and perhaps that previously many consumers chased the best price rather than the best product. This is, of course, a difficult thing to measure, but it’s something that has been discussed, at least here in Sweden and in Swedish podcasts. My partner (27 years old) thinks that Lindex has improved and that her view of the products has changed drastically from what she thought when she was younger. This might not be so strange (other brands have a higher focus on younger ages), but it’s still a bit fun to mention.

Actually, regarding Lindex/Stockmann, IFRS 16 works a bit differently than with NoHo, due to the specific nuances of sale&leasebacks, which I explained when the coverage started  But nowadays, the outcome is the same as with NoHo, meaning the income statement shows more rental expenses than in the cash flow, which is actually the opposite of what I understood when the coverage started. These can be found in the annual report, if you know what/where to look:   So, if I interpret correctly, 77.4 + 40.4 = 118 MEUR in the income statement and a cash flow impact of 110 MEUR last year. An additional nuance to this is that in the sale of the Helsinki property to Keva, 9 MEUR of the purchase price was paid by accounting for it in the “next few years’” rent. So this could reduce the cash flow impact by a million or two.

Lindex Group

We still see potential in the stock, supported by the structural arrangement that is likely to progress next year. We raised our forecasts slightly in this report, mainly due to the stronger SEK.

<p>We still see potential in the stock, supported by the structural arrangement that is likely to progress next year. We raised our forecasts slightly in this report, mainly due to the stronger SEK.</p> 

Stockmann: Structural change main topic next year

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