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Retail

Finnish Retailer Kesko Sees Grocery Sales Rise 9.4% In July

Finnish conglomerate Kesko posted grocery sales of €447.5 million in July, which was an increase of 9.4% in comparable terms, the company said.

Reported sales in July rose by 5.8%, helped by warm weather, the company said.

Overall, Kesko Group’s sales from continuing operations totalled €884.8 million, which was an increase of 7.9% in comparable terms. Reported sales from continuing operations were up 5.6%.

Growth In All Divisions

“Kesko’s sales grew in all divisions in July. In the grocery trade, growth was particularly strong in the neighbourhood market,” said Kesko president and CEO Mikko Helander.

In the period from January to July 2018, comparable sales were up 5.5% in Kesko’s grocery operations, with the business posting €3.07 billion worth of sales in the period. Reported sales were 1.8% higher.

The comparable change has been calculated by excluding the impact of acquisitions and divestments, including stores formerly belonging to Suomen Lähikauppa.

In July 2018, the number of Kesko's wholesale selling days in Finland was 22, which is one day more than the year before.

As well as grocery, Kesko also operates a building and technical trade operation, which saw sales of €362.5 million, an increase of 6.6% in comparable terms.

Sales in the group’s car trade business rose 6.9% to €74.7 million.

Last year, Kesko said that its sales were up 5% overall, with net sales in the group's grocery business rising by 2.4%

© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

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