Lindex, a Swedish fashion chain within the Finnish Stockmann Group, recently initiated a cost reduction programme after its total sales fell for the second quarter by 18 per cent in local currencies because of the global coronavirus pandemic. Sales in June, however, were on par with the previous year. It continues to grow digitally and is focusing on meeting online sales growth.
“During spring and summer, we have really shown that we can challenge ourselves. We have succeeded in adjusting quickly to meet the customer’s expectations and we have both learned and achieved a lot in a short time. To secure our continued business and a resilient Lindex, also for future challenges, we are now implementing additional actions and reducing our costs”, said chief executive officer Susanne Ehnbage.
For Lindex’s head office, the company is reviewing a new organization, which includes reduction in employee strength by 5 per cent.
“Another important part in our cost reduction program is our ongoing work on reviewing our rental agreements and optimising our store portfolio. At the same time, strong investments in the digital development, our sales channels, sustainability and innovation continue”, Ehnbage added.
Lindex has around 5,000 employees and approximately 480 stores in 18 markets in the Nordic countries, the Baltic States, Central Europe and the Middle East.
