Retail sales up at S Group, boosted by convenience and forecourt operations

Finland Group S said that its convenience store and forecourt business recorded a 17.9% increase in sales during the January-June period, boosting its entire retail division.

In June, retail sales in this division, where S Group operates the ABC chain, were 27.1% higher than the previous year, indicating that activity “is returning to normal” after the pandemic.

The company’s overall retail sales rose 5.2% in the half-year to 5.89 billion euros, as sales in its grocery business rose 3.9%.

Group S sees improvement

An interest rate crisis last year, coupled with the onset of the coronavirus pandemic, makes comparisons difficult, the group said, but the S group is happy with the way the business is developing, Hannu said. Krook, Managing Director of SOK.

“Food trade, which has grown sharply since the start of the interest rate crisis, continued to grow, and we grew more than the rest of the market, in the first half of the year,” he said. he declares.

Krook added that the group has revamped its entire grocery market network, leading to better results, while the development of online channels has also boosted sales.

Department stores and tourism

Outside of retail, S Group said sales in its department stores and specialty stores fell 1.1% over the period, while in tourism and food service sales fell 14%. 7%.

“Compared to 2019, we can see that tourism and catering in particular still have a long way to go before they return to pre-coronavirus levels,” the group said.

He added that its tourism and catering business exceeded expectations in June 2021, while July “is also shaping up to be extremely good”, driven by domestic tourism demand.

S Group, which recently announced the appointment of a new chief marketing officer, will release its full interim results on August 25.

© 2021 European supermarket magazine. Article by Stephen Wynne-Jones. For more information on retail, click here. Click on subscribe register for ESM: European Magazine of Supermarkets.

Source link

About Erick Miles


Check Also

Democratic Senators Urge FCC to Carefully Consider Acquisition of Tracfone from Verizon and Secure Commitments to Put Consumers First

“History has shown that positive promises and good intentions without binding commitments have been insufficient …

Leave a Reply

Your email address will not be published.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