HELSINKI: Stockmann recorded losses of nearly €50 million in the first quarter of the year. While the traditional retailer does not disclose segment-specific results, Pitkänen reveals that Herkku has fared well in comparison to other sections of the department stores.
Although reports suggest that consumers are increasingly price-conscious, the economic downturn has yet to truly hit Herkku despite its reputation as an upmarket grocery shop. Last year, the average purchase amount of its customers decreased marginally and its net sales declined, but not as sharply as those of the department stores on average.
