Here are Arttu’s comments on the June performance of Tokmanni (and Kesko) ![]()
According to the figures reported by the Finnish Grocery Trade Association (PTY), the market for department store and hypermarket chains, which is key for Kesko and Tokmanni, grew by 2% in June. For the entire H1 period, the growth rate has been at a healthy level of approximately 3%, which in our view indicates a slight improvement in domestic consumer demand.
Sales of groceries rose by 3%, while sales of non-food goods fell by one percent during June. Within non-food goods, sales fell by approximately one percent in both the clothing and the home and leisure categories. The growth in non-food sales has slowed down from the beginning of the year, as the growth for the entire H1 was in the magnitude of 2%.