Stadium, which is still the leading sports retail chain in Sweden, predicted continued growth in its recently released annual report for the financial year ended last August, in spite of the entry of new foreign competitors, such as XXL Sports from Norway, into its domestic market.
The retailer's sales continued to grow in all the markets where it currently operates – Sweden, Denmark and Finland – during the fiscal year ended last August. The net turnover for the group was 4,308 million Swedish kronor (€483.2m-$704.8m), an increase of 8.2 percent from the previous year. The gross turnover was SEK 5,385 million (€604.0m-$881.0m), compared with SEK 4,976 million the previous year.
The gross margin increased to 48.2 percent, compared with 47.4 percent last year. The operating profit was raised from SEK 120 million to SEK 287 million (€32.2m-$47.0m) as a result of higher sales, cost reductions and effects of earlier logistic investments.
The net turnover per geographical market for the Stadium group was SEK 3,578 million (€401.4m-$585.3m) in Sweden, up from SEK 3,317 million in 2008-09; SEK 348 million (€39.0m-$56.9m) in Denmark, up from SEK 335 million; and SEK 382 million (€42.8m-$62.5m) in Finland, up from SEK 330 million.
The total number of stores operated by Stadium increased from 115 to 119. Of these, 90 were full-fledged Stadium stores in Sweden, plus 10 each in Denmark and Finland. Stadium also continued to expand its low-price concept Stadium Outlet on the Swedish market. As part of this effort, SportRevolution in Sälen AB was acquired and its store reopened as Stadium Outlet. Remaining Sports Outlet stores in Sweden were either closed or converted into Stadium Outlet stores during the year, and by the end of the fiscal year there were six Stadium Outlet stores in Sweden. In December 2009, the wholly owned subsidiary Red Devil AB with stores in Stockholm and Gothenburg was sold.
Store reconstruction was intensified throughout the year. Twelve stores were renovated in Sweden. A new large-format store opened in Barkaby, Sweden. In Finland, new Stadium stores were opened in Lahti, Åbo, and Myyrmanni. In Denmark, Stadium Odense opened in Fyn.
Before the Christmas season, online stores were opened in Denmark and Finland to complement the Swedish e-commerce.
A substantial portion of the group's buying was done in foreign currencies, with the U.S. dollar and Hong Kong dollar being most significant.
Stadium also arranged its Stadium Sports Camp for the 16th year. This is Sweden's largest sports camp, and it attracted around 5,850 youths during five summer weeks.
