Kesko news

22 June 2017
Finland's Kesko has shared the highlights of recent research it commissioned on food and consumer habits, the findings of which suggest a trend towards the 'hybrid consumer' . Balancing the highest quality and ethics with price consciousness The research saw over 1,026 adults surveyed on food consumption. Findings suggested that 'consumer behaviour when purchasing food has changed and a n...
13 March 2017
We review the latest results from Finland's Kesko, including its 2016 results and move to enter a 'health, beauty and well-being' chain through joint venture with Oriola-KD. Results driven by acquisition Kesko has published its 2016 results, reporting that group net sales increased by 17.3% to €10.2bn. Kesko’s grocery trade saw net sales increase by 12.4% to €5.3bn, although this was l...
25 January 2017
Finland’s S Group has reported its 2016 results, with retail sales excluding tax grew by 2.0% to €11.02bn, while grocery sales grew by 3.8% to €6.78bn. 45% growth in online The retailer also enjoyed 45% growth in its online business, as CEO Taavi Heikkilä commented that,  'although the sales volume is still quite small, the direction is right and in line with our strategy' . Deregulation...
01 December 2016
Kesko has sold its Russian grocery business to Lenta for approximately €163m, following approval from Russian competition authorities. Deal worth €163m The deal is worth approximately €163m and includes 11 grocery stores in St Petersburg and Leningradsky, as well as three plots of land in these regions. In 2016, Kesko achieved grocery net sales of €106m. Mutual benefits The sale will ...
26 October 2016
Finnish retailer Kesko is to sell its Russian grocery stores to Lenta. Focusing on Finland Kesko's net grocery sales in Russia were EUR106m in 2015: that's less than 2% of its total. Mikko Helander, president and CEO of Kesko, said it would have needed significant investment to grow its grocery business in Russia. The sale will help it concentrate on its strategic objective: growth in Finla...
08 August 2016
Finnish market leader S Group has revealed its results for the first half of 2016, reporting that total sales excluding taxes rose by 1.7% to €5,336m, while sales in the retailer’s supermarket trade increased by 3.8% to €3,764m. Grocery sales in Finland were a particular highlight, increasing by 4.2% to €3,315m. CEO: flexible hours helped drive footfall & sales Commenting on the results, T...
03 August 2016
Finland’s Kesko has revealed its results for the first half of 2016, reporting that Group net sales increased by 7.3% to €4,624m. Acquisition drives performance Kesko’s grocery net sales increased by 8.6% to €2,447m, largely driven by the acquisition of Suomen Lähikauppa. Net sales in local currencies, excluding this acquisition increased by 0.9%, with the retailer’s grocery business ret...
12 April 2016
Kesko, Finland’s second largest grocery retailer has received conditional approval to acquire competitor Suomen Lähikauppa in a deal structured as a share price purchase for around €60m. In 2015, Suomen Lähikauppa achieved net sales of €935.7m, through its c. 600 Siwa convenience stores and Valintatalo supermarkets. Acquisition to double Kesko’s convenience footprint Although the sale i...
31 March 2016
We round up the latest format developments in Finland, including market leader S Group and Kesko’s new service station concepts, as well as Kesko’s new hypermarket concept. S Group to launch new Local ABC! service station concept S Group , which already operates a number of Finnish service stations, is to launch a new local service station concept this year in 120 stores . The new co...
03 February 2016
Finnish grocery retailer Kesko has released its financial statements for 2015, revealing that total net sales declined by 4.3% to €8,679m. Performance in Kesko’s grocery business declined by 1.7% to €4,673m. This was partly attributed to a drop in prices, with the retailer estimating that grocery prices in Finland have declined by 1%. Profitability drop in grocery trade At a total busi...