Improving Anttila's profitability

ANTTILA OY AND K-CITYMARKET OY PRESS RELEASE 16.6.2014 AT 12.00

Improving Anttila's profitability

Anttila Oy's operations will be adjusted on account of weakened sales and the changed market situation. As a result of the employee co-operation negotiations started in April, the decision has been taken to close four Kodin1 department stores for interior decoration and home goods. The department stores to be closed are Helsinki Ruoholahti, Kuopio Kolmisoppi, Lappeenranta and Tampere Lielahti. Staff reductions in the department stores to be closed, other Kodin1 department stores as well as in the centralised and logistics operations total around 200 full-time employees.

The employee co-operation negotiations taken place to improve profitability concerned a total of around 1,350 persons, and at the start of the negotiations the estimated need for reduction was at most 220 full-time employees.

Activities to improve the profitability of Anttila's business operations will continue as announced previously.

Kesko has announced its plans to improve Anttila's profitability in the financial statements release for 2013 (stock exchange release on 4 February 2014) and in the stock exchange release on 31 March 2014.
http://www.kesko.fi/en/Media/Releases/Stock-exchange-releases/2014/

Further information:
Senior Vice President Minna Kurunsaari, home and speciality goods trade, Kesko Corporation, tel. +358 10 53 40240
President Antti Ollila, K-citymarket Oy and Anttila Oy, tel. +358 10 53 40240