DOCSLIB.ORG

Results Presentation Q3 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Results Presentation Q3 2020 Business Review January–September 2020 Revenue grew and comparable EBIT improved in the third quarter Mika Rautiainen, CEO Markku Pirskanen, CFO 29 October 2020 Highlights Q3/2020 • Revenue grew strongly • Tokmanni succeeded in getting its apparel back on track, and the impact of the measures was reflected in the gross profit percentage • Comparable EBIT improved • All preparations for Christmas season are well in place 2 29.10.2020 Tokmanni’s Business Review January–September 2020 Q3/2020: Revenue grew and comparable EBIT improved • Revenue grew by 13.1% (9.9%) and was EUR 261.7 million (231.5) • Like-for-like revenue for stores grew by 11.6% (4.9%) • Comparable gross profit was EUR 89.0 million (82.0), with the comparable gross margin being 34.0% (35.4%) • Comparable EBIT was EUR 24.0 million (21.9), representing 9.2% of revenue (9.5%) • Cash flow from operating activities was EUR 6.1 million (18.0) • Earnings per share* was EUR 0.29 (0.27) 3 29.10.2020 Tokmanni’s Business Review January–September 2020 * Diluted 1–9/2020: Revenue and EBIT increased strongly • Revenue grew by 13.2% (9.5%) and was EUR 746.7 million (659.5) • Like-for-like revenue for stores grew by 11.8% (4.9%) • Comparable gross profit was EUR 251.4 million (225.1), with the comparable gross margin being 33.7% (34.1%) • Comparable EBIT was EUR 54.9 million (38.4), representing 7.4% of revenue (5.8%) • Cash flow from operating activities was EUR 61.5 million (27.5) • Earnings per share* was EUR 0.63 (0.41) 4 29.10.2020 Tokmanni’s Business Review January–September 2020 * Diluted Like-for-like customer visits in stores 3,0 % 2,8 % 2,3 % 0,2 % -0,1 % -1,0 % -1,4 % 2014 2015 2016 2017 2018 2019 1-9/2020 5 29.10.2020 Tokmanni’s Business Review January–September 2020 Like-for-like average basket 8,7 % 2,5 % 1,9 % 0,4 % 0,0 % -0,2 % -0,4 % 2014 2015 2016 2017 2018 2019 1-9/2020 6 29.10.2020 Tokmanni’s Business Review January–September 2020 Online sales grew strongly • Online sales accounted for 1.1% (0.5%) of total revenue in Q3/2020, growth 154.8% • Tokmanni's online development was successful • The main focus on expanding the product range and improving customer service • The most important season for the online business is about to begin 7 29.10.2020 Tokmanni’s Business Review January–September 2020 Store network development At the end of September, Tokmanni had 190 stores (189) • Three new stores: Myyrmanni shopping centre in Vantaa, Aura and in Pudasjärvi • Two enlarged stores: Citycenter shopping centre in Helsinki and in Kauhajoki • Four closed stores: Tammela in Tampere, centre of Äänekoski, Mylly shopping centre in Raisio and Isomyyri shopping centre in Vantaa • New store openings in REDI Helsinki in October and in Pietarsaari in November • In 2021, five new stores are expected to be opened according to the strategy 8 29.10.2020 Tokmanni’s Business Review January–September 2020 Tokmanni’s and non-grocery market development, % Sales development, % 20,0 19,2 16,0 12,0 10,2 13,1 11,0 8,0 9,9 10,9 5,8 7,8 8,0 8,3 7,6 4,0 6,1 4,5 4,4 4,0 3,6 3,9 0,0 1,9 1,4 1,6 0,6 1,1 -0,1 -1,1 -4,0 -1,9 -2,9 -8,0 -7,4 -7,0 -9,0 -12,0 -11,0 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Tokmanni Non-grocery market The figures include the following member companies of FGTA: department store and hypermarket chains K-Citymarket, Prisma, Sokos, Stockmann, Tokmanni and Minimani. Source: The Finnish Grocery Trade Association. 9 29.10.2020 Tokmanni’s Business Review January–September 2020 Financial review Q3/2020: revenue grew by 13.1% and comparable EBIT improved Revenue, Comparable M€ EBIT, M€ 300,0 261,7 35,0 250,0 231,5 30,0 210,7 25,0 200,0 24,0 21,9 20,0 150,0 15,5 15,0 100,0 10,0 50,0 5,0 0,0 0,0 Q3/2018 Q3/2019 Q3/2020 Revenue Comparable EBIT 11 29.10.2020 Tokmanni’s Business Review January–September 2020 Comparable gross profit • Due to the increase in revenue, gross profit in 251,4 euros was clearly better 225,1 • Factors affecting gross margin-% in Q3/2020 – Apparel discount sales – Good sales of yard and garden furniture, and 89,0 sports and leisure products 82,0 – Good grocery sales 35,4 % 34,0 % 34,1 % 33,7 % • Apparel inventory to normal level Q3/2019 Q3/2020 1-9/2019 1-9/2020 Comparable gross profit, EUR million Comparable gross margin, % 12 29.10.2020 Tokmanni’s Business Review January–September 2020 Private label's share of sales Private label* 30,7 % 69,3 % Other (30,9) (69,1) 1-9/2020 (1-9/2019) Q3/2020: private label share of sales 31.2% (31.8%) 13 29.10.2020 Tokmanni’s Business Review January–September 2020 * Includes private label products, products of exclusive distribution and non-branded products Tokmanni new private label Pisara: New product lines for hair and face care and cleaning 14 29.10.2020 Tokmanni’s Business Review January–September 2020 Tokmanni new private label Natur: Pet food assortment 15 29.10.2020 Tokmanni’s Business Review January–September 2020 Direct import’s share of sales 25,9 % 26,3 % 24,3 % 25,2 % 10,2 9,3 Other 10,1 9,6 direct import 17,0 Import 15,7 14,2 15,5 through Shanghai Q3/2019 Q3/2020 1-9/2019 1-9/2020 16 29.10.2020 Tokmanni’s Business Review January–September 2020 Operating expenses well in control Comparable operating expenses, MEUR • Action points related to the COVID-19 caused extra costs, however, the relative share of expenses 150,8 decreased 144,0 • The largest item in operating expenses was personnel costs – Personnel expenses totalled EUR 28.1 million (26.5), 10.7% of revenue (11.5%) in Q3/2020 45,7 49,5 19,7 % 18,9 % 21,8 % 20,2 % Q3/2019 Q3/2020 1-9/2019 1-9/2020 Comparable operating expenses, MEUR Share of revenue, % 17 29.10.2020 Tokmanni’s Business Review January–September 2020 Comparable EBIT improved clearly Comparable EBIT, MEUR 54,9 38,4 21,9 24,0 Q3/2019 Q3/2020 1-9/2019 1-9/2020 Comparable EBIT margin, % Q3/2019 Q3/2020 1-9/2019 1-9/2020 9,5% 9,2% 5,8% 7,4% 18 29.10.2020 Tokmanni’s Business Review January–September 2020 Balance sheet, financing and cash flow • Inventories were EUR 257.0 million (237.4) at the end of September Inventories, MEUR – Products for the Christmas season arrived earlier than last year and as planned 257,0 to the warehouse 237,4 • Cash flow from operating activities amounted to EUR 61.5 million (27.5) in 1-9/2020 • Cash and cash equivalents were EUR 18.0 million (6.2) at the end of September and the financial position is stable • Interest-bearing debt totalled EUR 413.8 million (424.6) at the end of September 189 190 – EUR 100.0 million (100.0) in non-current corporate bonds and loans from financial institutions and EUR 10.0 million (18.0) in current corporate bonds and stores stores loans from financial institutions 30.9.2019 30.9.2020 – The remainder of the liabilities are lease liabilities reported under IFRS 16 Inventories, MEUR • Ratio of net debt to comparable EBITDA (rolling 12 months) was 2.6 Number of stores (3.4) at the end of September 19 29.10.2020 Tokmanni’s Business Review January–September 2020 Net capital expenditure Net capital expenditure, MEUR • Net capital expenditure was EUR 8.3 million (12.0) 12,0 – Capital expenditure was mainly related to the expansion of the store network and renovations of stores • As a result of the COVID-19, some of the planned 8,3 investments have been postponed to 2021 • Capital expenditure in 2020 is expected to be around EUR 12–13 million 3,6 2,0 Q3/2019 Q3/2020 1-9/2019 1-9/2020 20 29.10.2020 Tokmanni’s Business Review January–September 2020 Q4/2020 Tokmanni Q4/2020 • Tokmanni is ready for the most important season of the year • No drop seen in the number of customer visits despite the acceleration of COVID-19 • Online business is ready for the Christmas season • A huge thanks to all Tokmanni employees for the excellent work, wishing you plenty of strength and energy to take you through the busy final part of the year in the middle of the COVID-19 22 29.10.2020 Tokmanni’s Business Review January–September 2020 Outlook for 2020 • Tokmanni forecasts strong growth in revenue and like-for-like revenue in 2020 • Group profitability (comparable EBIT margin) is expected to improve on the previous year 23 29.10.2020 Tokmanni’s Business Review January–September 2020 Financial Statements Review for 2020 published 12 February 2021 IR contact: Maarit Mikkonen [email protected] +358 40 562 2282 [email protected] Thank you! [email protected] tokmanni.fi.
Load more

Recommended publications
  • Finnish Shopping Centers 2020 Centers Shopping Finnish Finnish Councilfinnish of Shopping Centers • Suomen Kauppakeskusyhdistys Ry
    Succesful and evolving shopping center business – the beating heart of community! Menestyvä ja kehittyvä Finnish Shopping Centers 2020 kauppakeskusliiketoiminta – yhdyskunnan sykkivä sydän! Kauppakeskukset Finnish Council of Shopping Centers Annankatu 24, 2. krs. 00100 Helsinki puh. +358 9 4767 5711 www.kauppakeskusyhdistys.fi Finnish Shopping Centers 2020 Centers Shopping Finnish Kauppakeskukset Finnish Shopping Centers 2014 Centers Shopping Finnish Kauppakeskukset www.kauppakeskusyhdistys.fi Finnish Council of Shopping Centers • Suomen Kauppakeskusyhdistys ry Finnish Shopping Centers 2020 Kauppakeskukset 4 5 Introduction The Finnish Shopping Centers 2020 industry review transparency and knowledge of the sector among they are conveniently accessible. The business mix centers is as part of a community structure which is compiled by the Finnish Council of Shopping investors, customers, traders, and the main stake- changes constantly according to customer needs. is conveniently accessible. The key is to create rele- Centers. It provides a package of information on holders in the sector, both in Finland and abroad. Business proprietors are able to operate in an eco- vant spaces for people and to provide a community shopping centers for everyone interested in the logically and socially responsible way. The shopping hub. The ongoing trend is to provide non-retail uses sector. This is already the fourteenth annual review. Shopping centers are adapting to center business in Finland has reached its 30-year by increasing leisure in shopping centers and also Shopping Centers 2020 contains key figures about continuous change anniversary. It is not yet a mature sector, but it is in town centre regeneration. The mixed-use town the business sector as well as standardised intro- an area with continuous development.
    [Show full text]
  • Textually Produced Landscape Spectacles? a Debordian Reading of Finnish Namescapes and English Soccerscapes
    Textually Produced Landscape Spectacles? A Debordian Reading of Finnish Namescapes and English Soccerscapes Jani Vuolteenaho Helsinki Collegium for Advanced Studies Sami Kolamo University of Tampere In this article, a critical attempt is made to read the language of contemporary urban boosterism – its eulogistic adjectives and slogans, escapist evocations in nomenclature, nostalgic narratives, etc. – through the lens of The Society of the Spectacle (1995, orig. 1967), Guy Debord’s controversial theoretico-political manifesto. Through discussion of empirical examples, the authors shed light on different types of in-situ landscape texts in Finnish and English cities. In the former national context, culturally escapist and non-native names given to leisurescapes and technoscapes have mushroomed over the last quarter century. While this process represents a semi-hegemonic rather than hegemonic trend, many developers’ reliance on the “independent” representational power of language has substantially reshaped naming practices in the non-Anglophone country. The analysis of different types of promotional texts at England’s major soccerscapes evinces the co-presence of nostalgic evocations of local history amidst the hypercommodification of space. Arguably, the culturally self-sufficient, tradition- aware representational strategies in current English football stem from pressure from fans, the country’s status as the cradle of modern football, and a privileged possibility to promote the game’s “native” meanings via a globally-spoken language. Finally, this article addresses the pros and cons of using the spectacle theoretical framework to analyse critically language-based urban boosterism and branding under the current conditions of neoliberal urbanism. Jani Vuolteenaho, Lieven Ameel, Andrew Newby & Maggie Scott (eds.) 2012 Language, Space and Power: Urban Entanglements Studies across Disciplines in the Humanities and Social Sciences 13.
    [Show full text]
  • Gems in Seinäjoki
    4 <- Vaasa 34 Y Valtionkatu stie 3 ga X Ä 10 en CULTURE, MUSEUMS INFO R Puskantie Gems in C 59 Kokkola -> Vaasantie 6 Emergency 50 A3 Seinäjoki City Theatre Koskenalantie 18 Z Awarded as the 2015 Theater of On call between 8am–8pm, Accommodation CITY CENTER 28 T Seinäjoki the Year. Versatile repertoire. Also p. +358 (0)6 425 5311 Koulukatu 6 58 39 has a lunch restaurant in gorgeous At nighttime between 8pm–8am, 33 surroundings. SJK SEINÄJOEN PALLOKERHO PAUKANEVA p. +358 (0)6 415 4555 22 70 Maamiehenk. Alvar Aallon katu 22 30 72 12 53 62 What to do Keskuskatu -> 37 Seinäjoki City Orchestra Police HOTELS 5 Juhonkatu 4 18 16 <- Kauhajoki Follow the repertoire at www.skor.fi 71 66 49 31 24 Sammonkatu 64 3 D Provincial museum of Tourist information 1 Scandic Seinäjoki <- Kalevankatu55 1 21 19 South Ostrobothnia South Ostrobothnia Tourist Kauppakatu 10 69 AALTO-CENTRE Porvarink. 56 A versatile and extensive museum Service Ltd. Located in the 13 15 6014 67 POHJA 2 Hotel Fooninki area located in the beautiful park area Travel Center (Matkakeskus) 61 1 Verkatehtaankatu 40 DAP The administrative Kaarretie 4 19 52 Ruukintie of Törnävä. The permanent exhibition premises 50 1 Valtionkatu and cultural center SQUASH & BOWLING CENTER THE DUDESONS ACTIVITY PARK 42 in the stone barn is about the past p. +358 (0)6 420 9090 3 Hotel-Restaurant Alma Kutojankatu of Seinäjoki is F 29 and present of Seinäjoki and the Ruukintie 4 20 Kauppakatu 67-> 48 one the most 32 57 Kulmak. substantial works province.
    [Show full text]
  • KTI Market Review Autumn
    KTI Market review autumn Transactions activity increasing in the Finnish property market Finland attracts foreign investors Increasing challenges in commercial property rental markets Residential rents continue increasing KTI - High quality property information KTI Market Review – autumn The current development of the property investment market differs significantly from that of rental markets. Weak economic conditions are reflected in the commercial property rental markets in particular. Property investment markets have, however, shown increased activity during the summer and autumn. The Finnish market has attracted foreign investors and domestic players are restructuring their property portfolios. Low interest rates and improving availability of debt financing support the inflow of capital in the opertypr markets. Transactions activity is at its highest level since 2008. Volumes have increased mostly due to a few individual large transactions, the biggest of which is the foundation of a new property company Certeum in September. New domestic funds are also increasing their portfolios. During the year, a few new significant foreign investors have entered the market. The Finnish market attracts Swedish and German investors in particular. Strong investment demand has created downward pressure on prime property yields. In the office markets, weak economic conditions, together with increased space efficiency, continue decreasing rental demand. In the retail markets, weakening consumer confidence and consumption start pushing rents down and the amount of empty space has started to increase. The negative development is expected to continue, and rents are expected to decrease and vacancy rates increase in both office and retail markets. Due to negative economic development, construction activity is decreasing in 2014 and 2015.
    [Show full text]
  • Citycon Annual Report 2007 Annual Report Citycon Business and Property Portfolio
    Pohjoisesplanadi 35 AB Tel. +358 9 680 36 70 www.citycon.fi FI-00100 Helsinki, Fax +358 9 680 36 788 [email protected] Finland Annual Report 2007 Contents 2007 Citycon in Brief .....................................................................................................................................1 Citycon as an Investment and Information for Shareholders .............................2 CEO’s Review ...........................................................................................................................................4 Business Environment .....................................................................................................................6 Citycon Annual Report Annual Report Citycon Business and Property Portfolio ...............................................................................................9 Finland ....................................................................................................................................................27 Sweden ...................................................................................................................................................30 Baltic Countries ................................................................................................................................32 Human Resources ...........................................................................................................................34 Profit Performance and Financial Position ..................................................................37
    [Show full text]
  • Toimitilamarkkinat Helsingissä Ja Pääkaupunkiseudulla 2020/2021 Ja Pääkaupunkiseudulla Helsingissä Toimitilamarkkinat
    Jaska jokunnen (toim.) Toimitilamarkkinat Helsingissä ja Julkaisun nimi Julkaisun pääkaupunkiseudulla Tämä on alaotsikko Tämä 2020/2021 Hanna Kaleva, Saana Kumpula, Perttu Rantanen Helsingin kaupunki, kaupunginkanslia, kaupunkitieto 2021:xx Tilastoja Julkaisutilaukset p. 09 310 36293 Internet 2021:3 www.hel.fi/kaupunkitieto Tilastoja Tiedustelut Hanna Kaleva, KTI Kiinteistötieto Oy p. 040 5555 269, [email protected] Eyüp Yilmaz, Helsingin kaupunginkanslia, kaupunkitutkimus ja -tilastot p. 09 310 36520, [email protected] Julkaisija Helsingin kaupunki, kaupunginkanslia, kaupunkitieto Osoite PL 550, 00099 Helsingin kaupunki (Siltasaarenkatu 18–20 A) Puhelin 09 310 36377 Internet www.hel.fi/kaupunkitieto Tilaukset, jakelu p. 09 310 36293 [email protected] Taitto Sirkka Koski Kuviot Saana Kumpula, Sirkka Koski Saavutettavuus Lisätietoa kuvioista/kartoissta saa pyydettäessä sähköpostiosoitteesta [email protected] Verkossa ISSN 2736-9560 Helsingin kaupunki, kaupunginkanslia, kaupunkitieto Toimitilamarkkinat Helsingissä ja pääkaupunkiseudulla 2020/2021 Hanna Kaleva, Saana Kumpula, Perttu Rantanen 2021:3 Tilastoja Tilastoja Sisällys Koronakriisi ravistelee kiinteistösijoitus- ja vuokramarkkinoita ..............................5 Kiinteistösijoitusmarkkinoiden tilanne ja näkymät ...................................................6 Kiinteistökauppojen volyymi nousi vuoden vahvan alun siivittämänä 5,6 miljardiin euroon ...............................................................................................6 Koronakriisi hiljensi kaupankäynnin
    [Show full text]
  • Q1 Presentation Helsinki 26 April, 2007 Disclaimer
    Q1 Presentation Helsinki 26 April, 2007 Disclaimer This document and the information contained herein is strictly confidential and is being provided to you solely for your information. This document may not be retained by you and neither this document nor the information contained herein may be reproduced, further distributed to any other person or published, in whole or in part, for any purpose. These materials do not constitute an offer or solicitation of an offer to buy securities anywhere in the world. No securities of Citycon Oyj (the “Company”) have been or will be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”). Certain ordinary shares of the Company have been offered to “qualified institutional buyers” (as such term is defined in Rule 144A (“Rule 144A”)) under the Securities Act, in transactions not involving a public offering within the meaning of the Securities Act. Accordingly, such shares are “restricted securities” within the meaning of Rule 144 and may not be resold or transferred in the United States, absent an exemption from SEC registration or an effective registration statement. There will be no public offering of the securities in the United States. Subject to certain exceptions, neither this document nor any part or copy of it may be taken or transmitted into the United States or distributed, directly or indirectly, in the United States, or to any “U.S. Person” as that term is defined in Regulation S under the Securities Act. Neither this document nor any part or copy of it may be taken or transmitted into Australia, Canada or Japan, or distributed directly or indirectly in Canada or distributed or redistributed in Japan or to any resident thereof.
    [Show full text]
  • Growth Centres in an Innovative Project Development and Finland, Russia and in Estonia
    RUSSIAN PROPERTY TOUR 6.6.2018 SRV IN BRIEF KEY FIGURES SRV is a leader in the development of Revenue EUR 1116,1 million € innovative construction projects. We Operating profit EUR 17,1 million € seek to provide the best customer Personnel 1134 experience as a builder of urban centres Order backlog EUR 1 547,9 million € and to be the industry’s most inspiring workplace. AREAS OF OPERATION WE OPERATE A listed company founded in 1987, we with SRV Approach, which consists of operate in selected growth centres in an innovative project development and Finland, Russia and in Estonia. customer-oriented project management implementation. 3 Operations in Finland Russia: Moscow and St. Petersburg Operating • Development of shopping centre projects Share of Group revenue 98 % Regions • Management of facilities Oulu Finland: Growth centres Joensuu Helsinki Metropolitan area, Turku, Tampere, Jyväskylä Jyväskylä, Joensuu, Oulu Tampere Viipuri • Business premises Turku Pietari Helsinki • Housing units to city centres Tallinna Moskova Business Premises International Estonia 64 % share of Group revenue • Development of own plots; business premises, operations housing Housing Share of Group revenue 2 % 34 % share of Group revenue 5 High on Life 1. LOCATION All Roads Lead to REDI - REDI IS EASILY ACCESSIBLE BY PRIVATE AND PUBLIC TRANSPORTATION. Located at the intersection of 3 main roads. 500 daily metro stops on the 3rd floor. Average traffic volume of 100,000 cars per day. Pedestrian and bicycle path Baana and parking for 3,000 bicycles. REDI A Neighbourhood Ahead of Its Time Itäväylä Highway - REDI IS SITUATED AT THE CENTRE OF THE FASTEST GROWING NEIGHBOURHOOD OF HELSINKI.
    [Show full text]
  • Citycon Presentation
    APRIL 28TH, 2017 CITYCON PRESENTATION LIPPULAIVA – STUDEN IDEA & DESIGN COMPETITION BREEFING MEETING THIS IS CITYCON LEADING OWNER, MANAGER AND DEVELOPER OF SHOPPING CENTRES IN THE NORDICS AND BALTICS – 51 shopping centres1) – 200 million visitors p.a. – 13 managed/rented assets – Market cap. EUR 2 billion – GLA 1.2 million sq.m. – Credit ratings: Baa1 & BBB FINLAND PORTFOLIO VALUE Estonia and Denmark NORWAY SWEDEN 20 7% 2 Finland 9 Sweden1) 19 ESTONIA 27% 36 % 5 EUR billion DENMARK 1 Norway 30% 3 Key figures 31 March 2017 1) Including Kista Galleria Number of shopping centres TRUE PAN-NORDIC LEADER 340 140 125 95 90 FINLAND SPONDA ELO KEVA IDEAPARK 300 260 210 155 150 #1 SWEDEN ATRIUM UNIBAIL- OLAV THON STEEN &STROM LJUNGBERG RODAMCO 970 #2 #3 #2 340 205 140 95 NORWAY OLAV STEEN & STROM SALTO SCALA THON 145 100 80 ESTONIA ASTRI LINSTOW Retail GLA (thousand sq.m.) Source: Company reports, Pangea Property Partners analysis, as per April 2017 and Finnish Shopping Centres 2017. Includes only majority-owned 4 shopping centres. Includes some assumptions on retail proportion out of total GLA, where retail data not available. URBAN CROSSPOINTS DRIVEN BY STRONG DEMOGRAPHICS CORE ASSETS: –Urban environments, located where people live and work –Strong population growth and natural footfall –Integrated with public transportation –Shared access to education, health care, culture, municipal services 5 STRONG GROCERY-ANCHORING ‒ OVER 100 GROCERY STORES1) 2% 1% 9% 24% 9% Home and leisure Fashion Rental income Groceries Services and offices 269 Health and beauty 13% Cafés and restaurants MEUR Specialty stores Department stores 24% 18% As per 31 December 2016 6 1) Including Kista Galleria (50%) 90% OF CITYCON’S SHOPPING CENTRES ARE LOCATED IN CAPITAL OR MAIN CITIES ISO OMENA, KISTA GALLERIA, LILJEHOLMSTORGET KOSKIKESKUS, HERKULES, HELSINKI AREA STOCKHOLM2) GALLERIA, STOCKHOLM TAMPERE SKIEN GLA, sq.m.
    [Show full text]
  • HELSINKI Cushman & Wakefield Global Cities Retail Guide
    HELSINKI Cushman & Wakefield Global Cities Retail Guide Cushman & Wakefield | Helsinki | 2019 0 Helsinki is the capital of Finland and the largest and most important city in terms of commerce and trading. Helsinki is surrounded by Espoo, Vantaa and multiple other smaller cities, together they are usually referred to as the Helsinki Metropolitan Area (HMA). The population of HMA is about 1.5 million. Helsinki itself sets the tone to the Finnish economy and to all other Finnish markets. With broad avenues, grand architecture, well-tended parks and no high-rise buildings, Helsinki is a beautifully planned 19th Century city, but one that retains a small town feel. It is arguably closer in atmosphere and appearance to the major cities of Eastern Europe than those in the West, but it has the typically safe and clean reputation of a Scandinavian city. The main shopping areas in Helsinki CBD are located in high streets such as Pohjoisesplanadi, Mannerheimintie, Keskuskatu, Aleksanterinkatu, and Mikonkatu. There are also several large shopping centers located very centrally. Rental levels in these retail areas are the highest in Finland. Due to the weather conditions, shopping centers are very popular in Finland. HELSINKI OVERVIEW Cushman & Wakefield | Helsinki | 2019 1 HELSINKI KEY RETAIL STREETS & AREAS ESPLANADI AND MIKONKATUIn the very ALEKSANTERINKATU center of Helsinki, the Esplanadi area consists of two Aleksanterinkatu is one of the main retail streets in streets, Pohjoisesplanadi and Eteläesplanadi, northern Helsinki. Stretching from Mannerheimintie to Senate’s and southern side of the Esplandi. It has several coffee Square, the famous Stockmann department store is shops and a beautiful park which is always full of people located here along with other retailers such as Peak especially during summer.
    [Show full text]
  • Public Value and Performance of Libraries
    Qualitative and Quantitative Methods in Libraries (QQML) 6: 271-281, 2017 Public value and performance of libraries Antti Seppänen1, Markku Laitinen2, Tomi Rajala3 Harri Laihonen3 1 Regional State Administrative Agency of Southern Finland 2 National Library of Finland 3 University of Tampere, Faculty of Management Abstract: This paper addresses the changing role of libraries as central knowledge hubs of an information society. It questions the relevance of the existing performance measures and asks what kind of public value we are expecting from the libraries. The paper illustrates its main arguments with the empirical context of the Finland and shortly introduces the case of ‘Iso Omena’ in Espoo, Finland where a novel approach for providing public value has been implemented. The paper develops two arguments to guide the future research in the area. First, new indicators and measurement practices are needed if we want to evaluate more comprehensively the public value of libraries. Second, performance management and evaluation taking place in libraries calls for active performance dialogue between the relevant interest groups in order to determine the public value of libraries and performance measures tracking how this value is produced. Keywords: library, public value, performance, management control, organizational learning 1. Introduction Libraries role as corner stone of information society is important, but the world is changing and therefore also libraries need to rethink their role and value proposition. How can libraries today and tomorrow create most value to customers and taxpayers? One way to seek answers to this question is a public value approach as a set of normative values that create a foundation for public activities such as libraries is this case.
    [Show full text]
  • The Effect of the Physical Environment on Consumers' Perceptions: A
    Architecture and Urban Planning doi: 10.2478/aup-2018-0011 2018 / 14 The Effect of the Physical Environment on Consumers’ Perceptions: A Review of the Retailing Research on External Shopping Environment Anna-Maija Kohijoki1, Katri Koistinen2 1University of Turku, Turku, Finland, 2University of Helsinki, Helsinki, Finland Abstract – Regarding the revitalization of intra-urban centres, this re- tions and could they be used in planning and designing attractive view focuses on consumers’ perceptions of the physical environment with intra-urban shopping environments. emphasis on the tangible elements in the external shopping environment. Based on the typologies of environmental elements, a systematic review of 59 retailing articles by means of content analysis was conducted. Several I. MULTIDimENSIONAL SHOPPING ENVIRONMENT design and ambient elements were identified as relevant to consumers, but an in-depth understanding of their effects is needed to enhance the attrac- Consumers base their patronage decisions on a range of retail tiveness of intra-urban centres. and non-retail influences. The effect of the physical environ- Keywords ‒ Consumer, external shopping environment, perception, re- ment on consumers’ perceptions and behaviour is widely rec- tailing, review. ognized [2], [7], [10]. It has been reported that consumers are influenced by a combination of elements in the environment and that the physical environment may be more influential in pur- INTRODUCTION chase decisions than the actual merchandise [13]. However, mul- tidimensional shopping environment with its various elements A healthy town or city centre is a vibrant environment of- may evoke ambiguous perceptions. It should also be noted that fering a wide range of activities and services.
    [Show full text]