STOCKMANN GROUP’S SALES IN APRIL 2004

STOCKMANN plc STOCK EXCHANGE RELEASE May 10, 2004, at 16.00

STOCKMANN GROUP’S SALES IN APRIL 2004

In April, the Stockmann Group’s sales were down 3 per cent and amounted to
EUR 146.9 million. The divisions’ sales development turned out quite
heterogenous. Sales by the Department Store Division were up 4 per cent.
Sales in Finland were down 1 per cent on the previous year due to the fact
that the first day of the extremely successful Crazy Days campaign was,
unlike last year, already in March. The effect of the campaign timing on
the Department Store Division’s sales in Finland in April is about 12
percentage points. The division’s sales abroad grew by 32 per cent. The
sales growth was contributed by the department stores opened in Riga,
Latvia, in October 2003 and in Moscow’s Mega South shopping centre on
April 17, 2004. Sales by the Vehicle Division were down 18 per cent on the
April 2003 sales, which were exceptionally high (increase 43 per cent) as
they included large deliveries to car rental companies. Hobby Hall’s sales
were down 2 per cent on the previous year. The previously discontinued
four stores’ effect on the monthly sales is about 9 percentage points.
Nevertheless, Hobby Hall’s sales in Finland were on a par with the
previous year and grew in Estonia. The division’s sales in Latvia and
Lithuania were down due to the tightened-up credit policy. Sales by
Seppälä remained excellent and were up 21 per cent. The sales grew clearly
both in Finland and abroad. Seppälä’s sales abroad were increased by the
four stores opened in Riga in the autumn 2003 and the store opened in
Moscow on April 17.

Sales figures in April and in January-April

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

Department Store 63.8 64.5 99 228.0 210.9 108 706.7
Division, Finland*
Department Store 15.3 11.5 132 50.7 39.6 128 134.4
Division,
international
operations
Department Store 79.1 76.1 104 278.7 250.6 111 841.0
Division, total*
Vehicle Division 40.8 49.5 82 158.7 162.7 98 480.4
Hobby Hall 14.1 14.1 100 60.1 60.4 99 192.3
Division, Finland
Hobby Hall 2.7 3.0 88 13.3 14.5 92 43.5
Division,
international
operations
Hobby Hall 16.8 17.1 98 73.4 74.9 98 235.7
Division, total
Seppälä Division, 9.1 7.8 117 35.1 32.0 110 120.3
Finland
Seppälä Division, 1.0 0.5 187 3.7 2.6 144 10.0
international
operations
Seppälä Division, 10.1 8.4 121 38.8 34.6 112 130.3
total
Real estate + 0.1 0.1 113 0.3 0.3 100 0.9
others
Operations in 128.0 136.0 94 482.1 466.4 103 1 500.6
Finland, total*
International 19.0 15.1 125 67.8 56.7 119 187.8
operations, total
Stockmann total* 146.9 151.1 97 549.9 523.1 105 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-April 2003, these sales stand for EUR 9.9 million, and as for
the whole year 2003, for EUR 10.2 million. The consolidated sales growth
regardless of this elimination was 3 per cent.

STOCKMANN plc

Hannu Penttilä
CEO

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