Lindex’s operating result* for the second quarter increased by 2 MSEK and amounted to 411 MSEK (409 MSEK 2022). The operating result for the first half of 2023 increased by 8 MSEK and amounted to 474 MSEK (466 MSEK 2022).
‘We continue our sales growth and together with strengthened margins and good cost control we can summarise a strong result for both the second quarter and the first half of 2023. I am proud that we are reaching new sales and result levels despite the continued challenging world around us with reduced purchasing power, a strong US-dollar and high inflation. We are strengthening our profitability, growing with new customers and increasing our sales in both physical stores and digital channels, an outstanding achievement thanks to all employee’s fantastic engagement’, says CEO Susanne Ehnbåge.
Lindex’s sales during the second quarter increased by 2.0 per cent in local currencies and with 2.2 per cent in SEK. The sales during the first half of the year increased by 1.4 per cent in local currencies and with 1.7 per cent in SEK. The fashion company continued its growth in physical stores with an increase by 0.2 per cent during the second quarter and with 1.1 per cent during the first half of the year compared to the same period previous year. Lindex’s digital sales increased by 9.7 per cent during the quarter and with 2.1 per cent during the first half of the year. In total, the digital sales accounted for 19.0 per cent of Lindex’s total sales during the first half of the year (18,9 per cent 2022).
‘We further develop as a strong global brand empowering and inspiring women everywhere – both with our fantastic assortment and communication as well as through our different initiatives connected to our business. During the spring we have for example launched our long-term initiative “Reinvent the Model” where we work to increase diversity and broaden inclusion. Another example of how we actively work with our higher purpose is that we highlight the taboo around menstruation and will donate a share of the sales of period-proof panties from our femtech brand Female Engineering to WaterAid’, says Susanne Ehnbåge.
Lindex has high set goals to grow both in a sustainable and profitable way and takes further steps in its circular transformation. The fashion company also continues its digital transformation and is building a strong foundation for innovation, efficiency and flexibility through a series of investments.
‘Our powerful investments for our global, digital and sustainable growth continues. Our construction of our new highly automated omnichannel warehouse, to increase the delivery capacity and ensure an efficient distribution and stock management, is in full progress. At the same time, as part of our digital store programme, we have among other things initiated the implementation of a new mobile point of sales system and RFID technology to further improve the customer experience. We are also testing and further developing a unique AI tool “Lindex Copilot” designed to support our store employees in their daily work. Offering the right product, at the right place, in the right time and quantity is crucial in remaining competitive, where our investments and digital development are central’, says Susanne Ehnbåge.
*Lindex's operating result is reported including IFRS16 leasing agreements.