Finnish market leader S Group has reported its results for the first half of 2017, highlighting that sales excluding tax increased by 2.4% to €5.5bn. The retailer’s grocery sales in Finland increased by 1.6% to €3.4bn, driven by continued price cuts, particularly in Finnish produce.
Commenting on the results, CEO Taavi Heikkilä said, ‘Our grocery sales continued to outperform the general market development in the field. Our customers appreciate the wider selection and lower prices’.
Highlights: organic, local, premium and free from
S Group has invested in its grocery range this year, with a focus on ‘Finnish organic and local food and in its own line, called Kotimaista, which consists only of products of Finnish origin. In addition, S Group responded to the wishes of its customers for a little luxury by introducing products from Tesco’s Finest and Free From lines in Finland at the end of May’.
Ilkka Alarotu, SVP commented that the Tesco products had been so successful that the retailer had 'temporarily run out of some products. More are on their way, however'.
Exporting private label products is a trend IGD identified in a recent insight presentation, 'Private label in Western Europe'. Retail Analysis subscribers can access this presentation here.