Finnish retail conglomerate Kesko reported sales growth of 7.7% in January, to €823.4 million, compared to the same period in 2021.
The group witnessed strong performance in its grocery trade unit, as well as its construction and building services arm.
In the grocery trade segment, sales in January amounted to €430.7 million, registering an increase of 3.4%.
Grocery sales in K-food stores increased by 3.5%, while sales decreased in K-Citymarket’s home and specialty goods trade.
Kespro’s sales increased by 10.9%, and its online food store saw sales increasing by 14.9%.
Performance In Other Units
Sales in the company’s construction and building services trade amounted to €325.0 million in January.
Excluding specialty trade, the division’s sales increased by 22.7% on a comparable basis.
Sales increased by a comparable 23.1% in Finland, 19.3% in Sweden, and 17.8% in Norway.
In the specialty trade business, the company’s sales in the leisure trade decreased by 9.1% on a comparable basis.
Reported sales in the construction and building services trade increased by 20.4%.
In January 2022, Kesko’s grocery trade had the same number of delivery days, and the construction and building services trade in Finland, Sweden and Norway had one more delivery day than in the previous year.
The effect of one delivery day on Kesko’s wholesale sales under normal conditions, depending on the industry, is approximately 2-4%, the retailer added.
Sales in Kesko’s car trade group for January amounted to €70.3 million, affected by the reduced availability of cars.
In January, 16.0% fewer new passenger cars and 22.7% fewer vans were registered in Finland than in the previous year, the company noted.
© 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.
