Stores The S Group’s March market sales beat last year’s interest rate hoarding, but hotels and restaurants continue to suffer

The S Group’s supermarket sales grew by almost six per cent in the first half of the year, but hotels and restaurants lost more than half of their sales.

S Group sales continued to grow in the early part of the year compared to a year ago. In January – March, supermarket trade grew by almost six per cent and in March by more than six per cent.

What is noteworthy about the growth is that at the beginning of the corona crisis in March, Finns rushed to supermarkets to hoard food and basic necessities. In March last year, the S Group’s supermarket sales increased by about nine per cent.

In total, the S Group’s tax-free retail sales at the beginning of the year were just over EUR 2.7 billion, an increase of 0.7 per cent year-on-year. The supermarket trade generated more than EUR 2.1 billion in sales.

“The same phenomenon has continued throughout the Korona period, ie supermarket sales have consistently been several percent higher than in the previous year. From now on, the comparison will be made entirely in Korona time, so it will be interesting to see how sales develop in the coming months, ”SOK’s CEO Hannu Krook says in a press release.

Supermarket has grown during the Korona period, but the S Group also runs a large hotel and restaurant business. Last year, the group’s tourism and catering business lost nearly half of its sales and made a loss.

In January – March, the chain’s hotel and restaurant sales fell further by 55 percent. During the Korona period, the chain has moved a lot of its employees to work on the trade side.

Read more: Kaarina Hylkinen is an “exception in the restaurant industry”, and soon the business idea manager will be working again in the store due to interest rate restrictions – “Many have already changed industry”

Last year, the S Group’s supermarket store increased by eight percent. Comparable sales in the building and home improvement trade also increased by 15 per cent. Now at the beginning of the year, the hardware trade declined again and sales fell by 16.2 per cent.

In contrast, sales of clothing and cosmetics, for example, were weaker last year, as sales of the Sokos and Emotion stores fell by almost 20 per cent. Department store and specialty store trade continued to decline significantly in the early part of the year.

#Stores #Groups #March #market #sales #beat #years #interest #rate #hoarding #hotels #restaurants #continue #suffer

Next Post

Leave a Reply

Your email address will not be published. Required fields are marked *


Open chat
Want Guest Post?