STOCKMANN GROUP’S SALES IN MARCH 2004

STOCKMANN plc STOCK EXCHANGE RELEASE April 7, 2004, at 12.00

STOCKMANN GROUP’S SALES IN MARCH 2004

In March, the Stockmann Group’s sales were up 13 per cent and amounted to
over EUR 141 million. The agency sales of magazine and newspaper
subscriptions which were disposed of at the end of May 2003 have been
eliminated from the Group’s comparison figures. In January-March 2003,
this business was EUR 9.5 million. The main part of the subscription
agency sales piled up in January-February 2003, so its effect on the
comparison figures for the Group sales is going to decrease in the course
of the year. A corresponding elimination has been made from the comparison
figure for the Department Store Division.

The best growth was reported by the Department Store Division whose sales
were up 23 per cent. Sales by the rest of the divisions were as follows:
Hobby Hall up 10 per cent, Seppälä up 8 per cent and the Vehicle Division
up 1 per cent. The March sales growth of the Department Store Division in
Finland was contributed by the fact that the first day of the Crazy Days
campaign was, unlike last year, already in March. The campaign was once
again a huge success. The effect of the campaign timing on the Department
Store Division’s sales growth in March in Finland is about 15 percentage
points. The sales growth of the international operations of the Department
Store Division was contributed by the department store opened in Riga,
Latvia, in October 2003. Seppälä started operations in Latvia in the
autumn 2003. The discontinuing of four stores last autumn and at the
beginning of 2004 has affected Hobby Hall’s sales figures.

Sales figures in March and in January-March

March January-March January-
December
2004 2003 Ind. 2004 2003 Ind. 2003
Me Me 04/03 Me Me 04/03 Me

Department Store 59.7 48.3 124 164.2 146.4 112 706.7
Division, Finland*
Department Store 12.9 10.7 121 35.5 28.1 126 134.4
Division,
international
operations
Department Store 72.7 58.9 123 199.6 174.5 114 841.0
Division, total*
Vehicle Division 39.5 39.2 101 117.9 113.2 104 480.4
Hobby Hall 17.2 15.2 114 46.0 46.4 99 192.3
Division, Finland
Hobby Hall 3.3 3.4 96 10.6 11.5 93 43.5
Division,
international
operations
Hobby Hall 20.5 18.6 110 56.6 57.8 98 235.7
Division, total
Seppälä Division, 7.7 7.3 105 25.9 24.2 107 120.3
Finland
Seppälä Division, 0.8 0.6 137 2.7 2.0 133 10.0
international
operations
Seppälä Division, 8.6 7.9 108 28.6 26.2 109 130.3
total
Real estate + 0.0 0.1 64 0.2 0.2 94 0.9
others
Operations in 124.2 110.0 113 354.1 330.4 107 1 500.6
Finland, total*
International 17.1 14.7 116 48.8 41.6 117 187.8
operations, total
Stockmann total* 141.3 124.7 113 402.9 372.0 108 1 688.4

* The agency sales of newspaper and magazine subscriptions that were
divested in May have been eliminated from the sales figures for 2003. As
for January-March 2003, these sales stand for EUR 9.5 million, and as for
the whole year 2003, for EUR 10.2 million. The consolidated sales growth
regardless of this elimination was 6 per cent.

STOCKMANN plc

Hannu Penttilä
CEO

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