Finnish retailer Kesko reported a 1.9% decrease in sales in its grocery division in November, to €527.1 million.
Sales to K Group grocery stores went down by 2.7%, while sales in the home and speciality goods sector at K-Citymarket increased, the company noted. Its foodservice division, Kespro, saw sales go down by 0.9%.
Group Sales Performance
On a group level, sales went up by 1.4%, with the group’s building and technical trade division reporting a 4.2% increase, to €377.3 million, albeit reporting a 6.0% decline, in comparable terms.
In its car trade division, sales totalled €109.8 million – an increase of 8.8% – driven by sales increases of both new and used cars, while its sports trade decreased by 11.5%.
Overall, group sales for the month totalled €1.013 billion. Sales in Finland went down by 1.5%, while sales in other countries rose by 13.5%.
CEO Comment
“Kesko’s sales grew by 1.4% in November,” commented Jorma Rauhala, its president and chief executive. “Sales grew in the building and technical trade, where building and home improvement trade sales were boosted by the Davidsen acquisition.
“Sales also grew in the car trade, while sales in the grocery trade decreased. The number of delivery days was down by one for Kespro’s foodservice, and for [the] building and technical trade.”
In the period from January to November, group sales went up by 0.8%, to €11.2 billion, with comparable sales down by 2.8%. Grocery sales were flat in the 11-month period, while Kesko’s building and technical trade business went up by 12.0% (-7.2% comparable trade), car trade went down by 5.8% (-5.6% comparable trade), and sports trade went down by 8.3% (-8.3% comparable trade).
The reported sales include acquisitions and divestments completed in 2023 and 2024, in accordance with the dates of completion, the company added.
