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Retail

Kesko Group Sees Sales Decline By 3.5% In November

By Dayeeta Das
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Kesko Group Sees Sales Decline By 3.5% In November

Finnish-based Kesko Group reported a 3.5% year-on-year decline in sales, to €998.2 million, in November.

Grocery sales saw marginal growth of 0.1% in November, compared to last year, to €537.1 million, the company noted.

Grocery sales to K-Food stores decreased by 0.2%, while sales at K-Citymarket’s consumer goods store also decreased from the previous year.

The company’s foodservice arm, Kespro, reported a 5.4% year-on-year increase in sales.

Other Business Units

Sales in the Finnish company’s construction and building technology trade amounted to €362.1 million in November – down by 10.0%, year on year.

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Hardware store sales fell by 15.2%, on a comparable basis, while comparable sales in the technical trade division decreased by 10.2%.

Sales (comparable) fell by 17.2% in Finland, 18.1% in Sweden and 3.9% in Norway, the company added.

Sales in the car trade unit for the period registered growth of 2.3%, to €100.9 million.

January-November Performance

The Finnish retailer witnessed a 4.5% increase in grocery sales, to €5.8 billion, in the period from January to November 2023.

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In this period, Kespro generated sales worth €1.1 billion – up by 12.2%, year on year – while its grocery stores and consumer goods trade reported a 2.9% increase in sales, to €4.8 billion.

Sales at the company’s construction and building technology trade amounted to €4.1 million – down by 9.9%, on a comparable basis.

Kesko Group’s car trade segment generated €1.2 billion, registering year-on-year growth of 15.8%.

Kesko’s grocery stores and Kespro – as well as construction and building technology stores in Finland, Sweden and Norway – had the same number of delivery days as they did in the previous year, the company noted.

Read More: Top 5 Supermarket Retail Chains In Finland

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