×
2 716
Fashion Jobs
VF INTERNATIONAL
Lead Warehouse Project Manager
Permanent · COALVILLE
JOHN LEWIS
Team Manager – Operations
Permanent · LEEDS
BEGG X CO
Sales Supervisor And Associate
Permanent · LONDON
BOOHOO GROUP
Warehouse Team Manager - pm Shift
Permanent · WELLINGBOROUGH
JOHN LEWIS
Section Manager Warehouse
Permanent · WEYBRIDGE
HARRODS
Supply Planning Assistant Manager
Permanent · THATCHAM
BOOHOO GROUP
Senior Operations Manager
Permanent · BURNLEY
MULBERRY
Commercial Finance Analyst
Permanent · LONDON
SELFRIDGES
Assistant Events Manager (Exchange Square)
Permanent · MANCHESTER
VF INTERNATIONAL
Lead Warehouse Project Manager
Permanent · COALVILLE
VF INTERNATIONAL
Warehouse Operations Manager
Permanent · COALVILLE
ESTEE LAUDER
le Labo - Fragrance Specialist - le Labo, Edinburgh - 40 Hrs/Week - Full Time, Permanent
Permanent · Édimbourg
HEAD OFFICE
Buyer, Apple
Permanent · LONDON
HEAD OFFICE
Buyer – Nursery & Baby
Permanent · LONDON
HARRODS
Buyers Clerk - Furniture And Bed & Bath
Permanent · LONDON
HARRODS
Senior Buyers Clerk - Fine Watches & Jewellery, Homeware & Furniture
Permanent · LONDON
VF INTERNATIONAL
Credit Controller - Italian Speaking
Permanent · CALVERTON
VF INTERNATIONAL
Credit Controller
Permanent · CALVERTON
BOOHOO GROUP
Site Operations Manager
Permanent · BURNLEY
SHISEIDO
Shiseido Assistant Business Manager - Harrods (37.5 Hours)
Permanent · London
BOOHOO GROUP
Senior Site Operations Manager
Permanent · BURNLEY
HARRODS
Food Supply Coordinator
Permanent · LONDON
Published
Jan 29, 2021
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Stockmann takes major impairment charge on uncertain Lindex prospects

Published
Jan 29, 2021

Stockmann has updated its guidance and written down the value of its Lindex chain following an ‘impairment test’ for the business, even though Lindex’s performance has been fairly strong in recent periods.


Lindex



The book value of Lindex’s intangible assets has been adjusted to €368 million due to Covid-19 as the “ongoing and re-escalated pandemic increases uncertainty in Lindex’s main markets and the short-term business environment is challenging”.

Overall, it adds up to a €250 million in impairment related to Lindex’s goodwill that will be reflected in the firm’s fourth-quarter consolidated income statement. The writedown will be reported as an adjustment, and it has no cash flow impact. 

The retail giant also said that total group revenue for 2020 will be lower than in the previous year. 

“Despite a profitable fourth quarter and the robust performance of Lindex, the full-year operating result will be slightly loss-making,” it explained. “The impairment related to Lindex’s goodwill will increase the reported operating loss”.

The firm’s fourth quarter was “associated with greater uncertainty than normal due to the coronavirus situation,” it said.

Copyright © 2022 FashionNetwork.com All rights reserved.