Lindex shows strong sales growth and the best result ever for the third quarter

Lindex’s operating result* for the third quarter 2021 increased by 90 MSEK and amounted to 301 MSEK, an increase of 43 per cent compared with the same period last year and 145 per cent compared with 2019 (211 MSEK 2020, 123 MSEK 2019). Lindex’s operating result for the first nine months of the year amounted to 463 MSEK, which is more than doubled compared to both previous year and 2019 (199 MSEK 2020, 188 MSEK 2019).

“I am very proud to present Lindex's best result ever for the third quarter. We continue our strong digital growth and together with strengthened margins and good cost control, we can sum up a fantastic result for both the third quarter and the first nine months of the year, ”says CEO Susanne Ehnbåge.

Lindex’s total sales for the third quarter increased by 13.5 per cent in local currencies and by 13.3 per cent i SEK. Compared with the same period 2019, sales increased by 12.4 per cent in local currencies and by 9.7 per cent in SEK. During the year, the fashion company increased its market shares in all Nordic markets.

During the third quarter, Lindex's sales in physical stores increased by 7.4 per cent compared with the same period last year and were on a par with the third quarter of 2019. Lindex continued its strong online growth with a sales increase of 54.5 per cent for the quarter. In total, the digital sales amounted to 17.9 per cent of Lindex's sales during the third quarter, compared with 13.2 per cent for the same period last year.

“It is gratifying that our sales in store now have recovered and that we are back at the same level for the third quarter as in 2019. We increased sales in all our markets and for all business areas, where underwear was our strongest business area with a sales increase of 18 per cent. Our strong growth together with increased market shares is a clear proof that our customers appreciate our offer and our efforts”, says Susanne Ehnbåge.

The fashion company is constantly developing its offer based on the customer's needs and continues to develop its successful and expanded online editions. Lindex's strategic investments in the digital development, the integration of sales channels and optimisation of the store portfolio, as well as in innovation and sustainability, continue at full speed.

“We continue our transformation into a more sustainable business and make progress within our sustainability promise. Women empowerment is one of our focus areas and we are happy to have appointed a Global Women Empowerment Manager at Lindex. An important role in accelerating and leading our work in creating fair and equal workplaces in our supply chain. As part of our circular transformation and to prolong the lifetime of clothes, we offer Lindex second hand in some selected stores. It gives us valuable insights about how we can scale up the business model but also how we can develop our design for longevity, where we work towards the goal that by 2025, our entire assortment will be designed for longevity and circularity. We are in a transformation and have great ambitions going forward on our journey as a global, brand-led and sustainable fashion company. I remain humble for the future, but thanks to the wholehearted commitment and fantastic efforts of all Lindex employees every day, we stand stronger than ever for the future”, says Susanne Ehnbåge.
 

*Lindex's operating results are reported excluding IFRS16 leasing agreements.