Stockmann profit rises, led by Russia and Lindex sales

HELSINKI - Finnish department store and retail chain owner Stockmann reported a rise in quarterly profit thanks to strong sales in Russia and at its budget fashion chain Lindex.

A popular collaboration with Missoni boosted Lindex sales in the Nordics, helping the group's third-quarter operating profit rise 13 percent from a year earlier to 17.1 million euros ($22.19 million).

Quarterly revenue grew 5 percent to 485.1 million euros.

But the company also warned that Europe's debt crisis was clouding the outlook, and said there were signs that consumers confidence has weakened in Finland.

Chief Executive Hannu Penttila said it was considering issuing a corporate bond and selling its Nevsky shopping centre in St Petersburg, Russia. ($1 = 0.7705 euros)