Lindex Group Oyj (formerly Stockmann Oyj) — Cyborg Score 5/10
Mixed
Apparel Retail / Department Stores
Strategic Profile
Fashion is the most significant category, accounting for 56% of total sales in 2025. The company maintains an omnichannel retail presence across Nordic markets with focus on apparel, cosmetics, and home segments. As of March 2, 2026, the company had a market cap of €403.54M with a trailing P/E of 15.41.
Cyborg Score Rationale
The company reported revenue of €951.7M as of December 31, 2023, declining 3% year-over-year. The traditional retail model faces ongoing headwinds from e-commerce disruption, though the omnichannel strategy and recent IT partnership (May 2026) suggest modernization efforts. Valuation appears reasonable at 0.42x price-to-sales.
Top Insights
Fashion accounts for 56% of total sales, representing core business strength
Rebranded to Lindex Group in March 2024, signaling shift in corporate identity and strategic focus
Annual sales of ~€78M (2025) with projected 0–5% growth in 2026
Attractive valuation metrics with 0.42x price-to-sales and 0.90x price-to-book as of March 2026
Named Competitors
H&M — Major Nordic fashion retailer with strong e-commerce presence
Zara — Fast-fashion competitor with Nordic store footprint
Boozt — Nordic online fashion retailer
Recent Developments
(May 2026) CGI partnership announced to strengthen omnichannel customer experience
(March 2024) Corporate rebrand from Stockmann Oyj Abp to Lindex Group Oyj
(2025) Flat-to-declining year-over-year sales performance with modest expectations for 2026
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