Finland: S Group returns to growth

Date : 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, Taavi Heikkilä, CEO said, ‘We are pleased with the deregulation of opening hours. More flexible shopping hours have been well received by our customers. Sales increased in our large and small stores alike, with the total number of customers growing by 8 per cent.

Elsewhere in the market…

Competitor Kesko released its results for the first half of 2016 last week, reporting that net sales increased by 7.3% to €4,624m, largely driven by the acquisition of Suomen Lähikauppa. Excluding the acquisition, net sales in local currencies increased by 0.9%.