Finland-based S Group has released its full year 2018 results. Retail sales increased by 2.2% to €11.5bn versus 2017.
Growth in all formats, hypermarkets had the greatest impact
In Finland, grocery retail sales increased by 4.8% to €7.3bn.
Including operations in Russia and Estonia, the retailer’s supermarket sales increased by 2.9% to €8.1bn. Service station and fuel sales in Finland increased by 5.9% to €1.7bn.
Whilst all banners performed positively, its Prisma had the greatest impact. CEO Taavi Heikkilä said their market share may have risen slightly given the group's positive figures.
Continued Herkku Food Market roll out
During the year, S Group continued the conversion of Stockmann’s Finnish grocery food halls to its new flagship concept. The store in Helsinki was positively received by shoppers and the retailer is looking to renovate more stores across its network.
We visited the new flagship store during opening week and have highlighted it as one of our “Top 16 stores you must visit in 2019”. A sample of the report is shown below but IGD Retail Analysis subscribers can access the report in full here.
|Source: IGD Research
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