Department stores

But what are department stores?

'A department store is typically a large retail establishment that offers a wide variety of merchandise organized into separate departments. Merchandise featured in department stores is generally clothing for men, women and children; jewelry and accessories like handbags, belts and scarves; shoes; and cosmetics. Some department stores carry small appliances for the home, electronics, sports equipment, toys and furniture. Many department stores are part of a retail chain with stores in multiple locations.'

For more information about department stores follow the link below:

Difference Between a Department Store & a Chain Store

Are the finnish department stores affected by the Russia crisis?

The example Stockmann:

Stockmann is the biggest department store in Finland and Scandinavia with its head quarter in Helsinki.

Department store Turku

Caused by the Russia crisis and its sanctions the finnish retailer Stockmann is freezing plan to open more department stores in Russian cities. The expansion in Russia had been one of the main goal of Stockman which is frozen for now and its attainment uncertain. Stockman is operating in since 1989 and has five department stores in Moscow and one in St. Petersburg. Together these department stores did 345 million euros worth of business last year - 17 percent of the whole turnover. Therefore, it is clear that Stockmann is highly affected by the Russia crisis. Due to the uncertain situation in Russia Stockmann doesn't have any solutions to solve this problem. 
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