Lindex reports continued growth in all sales channels

Lindex’s sales for the third quarter of 2022 increased by 1.1 per cent in local currencies and with 3.0 per cent in SEK. Compared with the same period in 2019, before the pandemic, the sales increased by 13.8 per cent in local currencies and 12.9 per cent in SEK. The sales for the first nine months of the year increased by 15.7 per cent in local currencies and 18.0 percent in SEK.

’We continue our fine sales growth and reach Lindex’s highest sales for the third quarter. Our increase in both our physical stores and in our digital channels is a fine proof of our ability to meet our customers’ needs and wishes and that our offer stands strong despite the challenges in the world around us. We have also continued to strengthen our customer base and have, so far this year, attracted 775 000 new members and online customers and have a total of 5.4 million registered customers with whom we have a great opportunity to continue building a long-term relationship’, says CEO Susanne Ehnbåge.  

Lindex’s sales in the physical stores increased by 0.7 per cent during the third quarter compared with the same period last year. The fashion company continued its online growth with a sales increase of 0.4 per cent during the quarter and the digital sales amounted to 17.8 per cent of Lindex’s total sales.

Lindex’s operating result* for the third quarter amounted to 219 MSEK (301 MSEK 2021, 123 MSEK 2019). The operating result for the first nine months of the year amounted to 645 MSEK, which is an increase with 39 per cent compared with previous year and more than triple to 2019 (464 MSEK 2021, 188 MSEK 2019).

’We report a strong result for the period, where we are far above 2019’s figures, but we did not reach last year’s extraordinary results for the third quarter. The significantly weakened Swedish Krona has entailed lower margins. We have not fully compensated for this as it is of great importance to us that our customer offer has a high price value. Our result is also affected by our great investments where we, in line with our long-term strategy, invest in our continued global, digital, and sustainable growth’, says Susanne Ehnbåge.

As part of the fashion company’s growth strategy and sustainable business development, Lindex invests in femtech. During the quarter Lindex has launched its new brand Female Engineering, which through innovation and technology, develops products with female needs in focus.

’Our brand portfolio is growing and with Female Engineering we position us on a growth market with great potential. We have developed products for the female body for over 65 years and our investment within femtech is a way for us to manage our expertise in new ways – a milestone in Lindex’s history. Creating sustainable growth and further developing our offer, with the customer’s needs in focus, are central parts of our journey ahead. We are facing a continued challenging time, but where we with the right priorities, high cost-focus and our flexibility and speed will also meet the time ahead of us in the best possible way and continue to stand strong’, says Susanne Ehnbåge.

*Lindex's operating result is reported excluding IFRS16 leasing agreements.