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By
Reuters
Published
Apr 29, 2015
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Finland's Stockmann says operating loss widens in Q1

By
Reuters
Published
Apr 29, 2015

Finnish fashion and department store group Stockmann reported widening losses in the first quarter due to weak rouble and slow demand in Russia and Finland.

The group reported first-quarter core operating loss of 50 million euros ($55 million), compared to a loss of 44 million euros a year ago. Analysts in a Reuters poll had expected Q1 loss to come in at 46 million euros.

The firm recently announced it would close three loss-making department stores in the Moscow region and one in Oulu, Finland.

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