Kesko Reports Comparable Sales Growth Of 1.6% In June
Finnish retailer Kesko has announced that sales decreased by 3.5% in June 2017 to €971.3 million. However, the company notes that this represents a growth of 1.6% in comparable terms in local currencies.
Sales in the grocery trade totalled €456.5 million in June, representing a decrease of 5.3%. However, grocery sales including the comparable stores of Suomen Lähikauppa amounted to €444.4 million with 0.7% growth.
Mikko Helander, Kesko CEO, said that sales in the company's grocery retail network were "strengthened especially in K-Citymarkets and in the renewed K-Markets".
Overall, Kesko's performance was boosted by sales growth in its car trade business, which increased by 13.1% to €84.6 million. Meanwhile, sales in its building and technical trade decreased by 4.5% to €430.2 million, which Helander said were "weakened by the cold start to summer in northern Europe."
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.