Finland: Kesko and S Group Q1 results

Date : 30 April 2019

Both companies reported a decrease in group net sales during the first quarter. From a retail point of view, Kesko said it performed much better and gained market share, thanks to growing in-store traffic and strong online sales.

Kesko’s retail sales grow by 1.5%

Kesko released its first quarter sales, reporting net sales of €.,4bn, with like-for-like sales decreasing by 0.6%, partly due to a decline in car trade sales. The group’s retail division performed very well, with a its grocery division seeing growth of 1.5%, ahead of the market growth of 0.4%. CEO Mikko Helander commenting on these strong results, said: “Customer numbers continued to grow in all our chains and […] online sales growth continued strong and totalled 110%.”.

S Group reports net sales decrease

Meanwhile, S Group also reported net sales for Q1. It said these fell by 0.7% in compared to 2018, to €2.6bn. Like-for-like retail sales decreased by 1.3% to €1.8bn (including sales in Estonia and Russia) following exceptional sales last year and Easter being in April this year. In Russia, the retailer closed some of its Prisma stores, also affecting its performance. Online grocery trade, the only growing channel, was up by almost 25% compared to last year.

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