The target market of Kesko, Tokmanni and Lindex's Stockmann division, i.e. department store and hypermarket chains, posted a 2.4% increase in revenue after a sluggish September. Growth was driven by food product groups (4.9%), while durable goods (-3.1%) continued their downward trend.

The target market of Kesko, Tokmanni and Lindex’s Stockmann, i.e., the department store and hypermarket chains, saw revenue fall by one per cent in September.

The target market of Kesko, Tokmanni and Lindex’ Stockmann, i.e., the department store and hypermarket chains, remained at the level of the comparison period (+0.4%) in July. The development was positive for food (+2%), but revenue in the consumer goods market continued its downward trend (-3.3%).

The Q2 was proceeded by a profit warning in July. Even though revenue grew on group level, this was mainly inorganic because of the acquisition of Dollarstore. Like-for-like sales declined. There are uncertainties in the short term, but the valuation is moderate. Analyst Arttu Heikura summarizes.