HELSINKI: Finland’s Stockmann has signed an agreement regarding the selling of its subsidiary. The transaction covers over 82 Seppälä stores in Finland.
The selling of Seppälä will improve the Stockmann Group’s profitability. Seppälä’s revenue in 2014 was €92.6 million and operating result excluding non-recurring items was -27.2 million. The purchase price of Seppälä does not have a significant effect on Stockmann’s earnings.
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