Kesko Reports November Sales Down 3.5 Percent

Kesko Oyj announced on Friday that its sales for November 2023 amounted to €998.2 million, marking a 3.5% decrease compared to the same period in the previous year. The overall decline in reported sales was influenced by weakened construction volumes and slower growth in the car trade segment.

The grocery trade division reported sales of €537.1 million, flat year-on-year. This performance was affected by the timing of wholesale deliveries to K Group grocery stores and slowing inflation. In contrast, the building and technical trade division saw a 10.0% decrease in sales, reaching €362.1 million. Sales in building and home improvement trade specifically fell by 12.4% on a comparable basis.

The car trade division, which has included sports trade since April 1, 2023, reported a 2.3% increase in sales, totaling €100.9 million. Comparable sales growth in this segment was 4.6%, although sports trade sales decreased by 22.0%.

Mikko Helander, Kesko's President and CEO, commented on the November sales, noting the 3.5% decrease or 4.3% on a comparable basis. He highlighted that sports trade sales declined despite an increase in car trade sales across all business areas.

For the period from January to November, Kesko Group's total sales increased by 0.4% to €11,115.2 million. Grocery trade sales grew by 4.5%, while building and technical trade sales decreased by 8.2%. The car trade division saw a significant increase of 14.1%.