In the supermarket trade, retail sales before taxes in January–March totalled EUR 2,479.6 million, with an increase of 5.2 per cent year-on-year. The importance of price competitiveness continued to be emphasised in the supermarket trade. The performance of the grocery trade was also boosted by the leap day at the end of February and the fact that Easter was earlier than in the previous year, which shifted sales from April to March.

“We estimate that in the grocery trade, our sales grew better than the rest of the Finnish market in the first quarter. A diverse and affordable shopping basket is a key promise of the cooperative, and we have kept this promise. In January, we again reduced the prices of all Xtra products. The benefits of co-op membership are also appreciated. For example, the Bonus means actual cash in your account,” says Hannu Krook, CEO of SOK.

In terms of grocery shopping, customers were particularly interested in affordable Xtra products, products in the ten-year-old Kotimaista range of Finnish products, fruit and vegetables priced under one euro, and basic cooking products such as potatoes, pasta and minced meat. The vegan challenge and new products also attracted consumers in the first quarter. In the consumer goods trade, there was high demand for products in categories such as gardening, sports equipment and consumer electronics, in which our sales also outperformed the market.

S Group’s department stores and speciality goods sales amounted to EUR 54.1 million in January–March, with a decrease of 4.4 per cent year-on-year. Campaigns such as co-op member events and the Beauty Week continued to interest customers. The 3+1 Days spring campaign achieved a new sales record. This year, the campaign took place in April instead of March, which caused sales to shift to the second quarter of the year. Sokos expanded in early April, when the KPO Cooperative Society opened the chain’s 21st department store in Vaasa on 11 April 2024.

Steady development in the travel industry and hospitality business and service station stores and fuel sales despite the challenging operating environment

Sales in S Group’s travel and hospitality business totalled EUR 181.9 million in January–March. Sales remained almost at the same level as in the corresponding period in the previous year. This can be considered a good result in the current economic situation.

“January started slowly, but demand picked up as the quarter progressed. As a whole, the first quarter met expectations in S Group’s hotels and restaurants. Our customers appreciate good service and a good price-to-quality ratio,” says Krook.

S Group’s service station stores and fuel sales in January–March amounted to EUR 482.8 million. Sales in euros decreased by 0.9 per cent from the previous year’s level because of the fall in the world market prices of fuels. In the first quarter, business operations were also affected by strikes and lower road traffic volumes than in the previous year.

“Despite the challenging operating environment, sales developed well in the various services of the ABC chain. The chain’s comprehensive network and services are constantly being renewed. For example, the restaurant concept has been developed successfully, and sales in the electric charging business more than doubled from the previous year,” says Hannu Krook.

S Group’s retail sales before taxes 1–3/2024

* Includes sales in Estonia.