Stockmann: Swedish clothing market grew by 1% in January

Translation: Original comment published in Finnish on 2/13/2024 at 8:59 am EET.
The January figures for the Swedish clothing market were published this morning. A 1% increase means a decrease in sales volumes. This development is in line with the growth rate in 2023.
Sweden accounts for more than half of Lindex’s sales
Sweden is Lindex's largest market and generates more than half of Lindex's sales. Our forecast for Lindex's Q1'24 revenue is 4% growth in local currencies, below the January performance in Sweden. The development of SEK and NOK, which together account for around 70% of Lindex's sales, also affect the company’s figures. However, the FX impact will clearly decrease this year at current exchange rates and will be only slightly negative in Q1'24 in the figures reported by Stockmann.
Source: Svensk Handel, *Inderes’ estimate