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Retail

Finland's Kesko Reports 6.1% Sales Gain In March

Finland's Kesko Group has reported sales of €1.1 billion in March, marking an increase of 6.1% (5.6% on a comparable basis) compared to the same period last year.

Mikko Helander, president and CEO of Kesko Group, commented, “In March, Kesko's sales increased significantly in the construction and building services trade, an increase of 24% due to the growth in corporate customer sales.

"In the grocery trade, sales were at a good level, despite the timing of the second most important sales season of the year, Easter.”

Divisional Performance

In the grocery trade, sales in March amounted to €522.4 million, down 1.4% compared to the same period last year.

The timing of Easter in April affected sales development, with grocery sales to K-food stores decreasing by 8.6%, the company noted.

Sales also decreased in K-Citymarket's home and specialty goods trade, but Kespro's sales increased by 52.8%.

Sales in the construction and building services trade amounted to €488.8 million in March, an increase of 23.8% in local currencies.

The construction and building services trade, excluding specialty trade, saw sales up by a comparable 23.7%. Within this division, sales increased by 21.3% in Finland, 14.4% in Sweden, and 21.2% in Norway.

Read More: Kesko Group Posts Sales Worth €852.1m In February

Delivery Days

In March 2022, Kesko's grocery trade and construction and building services trade had as many delivery days as in the previous year.

In the grocery trade, Saturdays are considered wholesale delivery days, unlike in the construction and building services trade.

The effect of one delivery day on Kesko's wholesale sales under normal conditions, depending on the industry, is approximately 2% to 4%.

© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Conor Farrelly. Click subscribe to sign up to ESM: European Supermarket Magazine.

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