With over 700 stores in 16 countries, Stockmann will now close 16 Seppala fashion stores in Russia and also seek to sell its Hobby Hall mail order business, which has annual sales of about US $ 126 million. Seppälä has 220 fashion stores in Finland, Russia, and the Baltic countries. From the beginning of 2015, the company will introduce a new operating structure with three divisions – retail, real estate and fashion chains. Stockmann has predicted its profits for the current will drop significantly due to a weakened Russian rouble and low Finnish demand. The company brought over the Swedish retailer Lindex in 2008, which has over 480 stores in 16 countries.
