Lindex Group: Swedish clothing market growing nicely in December

Translation: Original published in Finnish on 01/10/2025 at 08:40 am EET

Source: Svensk Handel *Inderes’ estimate

The December figures for the Swedish clothing market were published this morning. Sales grew by 6%, so sales growth remained good also toward the end of the month, as the positive development in the beginning of the month (+7%) was announced already before Christmas. Due to minor changes made earlier in the year, the cumulative figure for 2024 was not published, but we estimate it to be 1-2%.

Sweden accounts for more than half of the Lindex chain’s sales

Sweden is Lindex's largest market and accounts for more than half of the sales of the Lindex chain (but not the whole group which is also called Lindex). Our forecast for the Lindex segment's revenue in Q4'24 is around 2% growth in local currencies, compared to some 3% growth in the Swedish market in October-December. Lindex underperformed the market somewhat in Q3 due to logistics issues. Although, as far as we know, these issues should not affect Q4 significantly, they could still have a small negative impact. With this in mind, market development is in line with our forecasts. The development of SEK and NOK, which together account for around 70% of the Lindex segment’s sales, also affects the company’s figures. The FX impact this year is much lower than in previous years and is not significant in our Q4'24 forecasts (-1%). Our forecast for the Lindex Group expects the full-year result to remain at 68 MEUR, which is below the company's guidance of 70-80 MEUR. The good market development in December may help Lindex reach its guidance, but we see no reason for significant forecast changes.