Tokmanni's expansion in Denmark continues

Translation: Original comment published in Finnish on 07/11/2024 at 7:38 am EEST

Tokmanni announced new store openings in Denmark during 2024-25. Considering the objectives stated in connection with the strategy update the announced store openings were expected, and thus do not cause any forecast changes.

Denmark is an attractive market

Tokmanni announced its plans to open 8 new stores under the Big Dollar concept across Denmark in the coming years. Two are scheduled for the current financial year (November) and the remaining six will, according to preliminary estimates, be opened in 2025 (3 in Q2 and 3 in Q4). With the new openings, the Big Dollar network grows to 13 stores, where we still see plenty of room for growth.

As a whole, we are neutral about the news, but a strong expansion in Denmark may indicate that the market has continued to welcome Tokmanni. Denmark is an interesting market for Tokmanni, as Big Dollar operates with a different concept than other focused discount store concepts, offering an experience and a wide range of products, which could open up significant growth potential.