STOCKMANN GROUP’S SALES IN SEPTEMBER 2004

STOCKMANN plc STOCK EXCHANGE RELEASE October 11, 2004, at 14.00

STOCKMANN GROUP’S SALES IN SEPTEMBER 2004

Strong growth continues in Seppälä and the Department Store Division

In September, the Stockmann Group’s sales amounted to EUR 140.7 million,
up one per cent on the previous year. The strong sales growth continued in
Seppälä and the Department Store Division, whereas sales by Hobby Hall and
the Vehicle Division were down due to downsized operations in these
divisions. Sales by Seppälä were up 20 per cent, the growth being 16 per
cent in Finland and 56 per cent abroad. Sales by the Department Store
Division were up 12 per cent. The growth was 5 per cent in Finland and 53
per cent abroad. The new retail units in Latvia and Russia have
contributed to the strong growth abroad both for Seppälä and the
Department Store Division.

Sales by Hobby Hall were down 6 per cent on the previous year. Sales were
down 4 per cent in Finland and 12 per cent abroad. The September sales
came out according to expectations and distance retail in Finland grew.
The decrease in sales was attributable to the reduced number of stores and
the tightened-up credit policy in the Baltic countries. Sales by the
Vehicle Division were down 20 per cent on the previous year. The whole
decrease is due to the transfer of the Volkswagen-Audi car dealership in
Herttoniemi, Helsinki, to Kesko’s subsidiary on July 1, 2004. In 2003,
this car dealership accounted for about 22 per cent of the Vehicle
Division’s total sales. The same-store sales by the Vehicle Division in
September were up 6 per cent.

Sales figures in September and in January-September

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

Department Store 60.2 57.6 105 503.0 476.5 106 706.7
Division, Finland*
Department Store 17.4 11.4 153 125.7 88.3 142 134.4
Division,
international
operations
Department Store 77.6 69.0 112 628.7 564.8 111 841.0
Division, total*
Vehicle Division 30.2 37.7 80 339.8 365.5 93 480.4
Hobby Hall 17.7 18.5 96 125.0 135.3 92 192.3
Division, Finland
Hobby Hall 3.9 4.5 88 24.8 30.3 82 43.5
Division,
international
operations
Hobby Hall 21.6 22.9 94 149.8 165.7 90 235.7
Division, total
Seppälä Division, 9.9 8.5 116 89.8 82.8 108 120.3
Finland
Seppälä Division, 1.3 0.8 156 10.5 6.5 162 10.0
international
operations
Seppälä Division, 11.2 9.3 120 100.2 89.3 112 130.3
total
Real estate + 0.1 0.1 0.7 0.6 0.9
others
Operations in 118.1 122.3 97 1 058.2 1 060.8 100 1 500.6
Finland, total*
International 22.6 16.7 136 161.0 125.1 129 187.8
operations, total
Stockmann total* 140.7 139.0 101 1 219.2 1 185.9 103 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.
These sales stand for EUR 10.2 million for the whole year 2003. The
consolidated sales growth regardless of this elimination was 2 per cent.

STOCKMANN plc

Hannu Penttilä
CEO

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