Department stores in the hypermarket chain’s net sales in Finland decreased by 3.9 percent from the previous year. And specialty goods trade sales decreased by up to 10.2 percent.
But discount specialist Tokmanni’s net sales in the second quarter grew by 0.2 percent year on year and totaled 182.5 million EUR. Tokmanni’s customer base increased by 0.5 percent.
During the spring and early summer the cool weather weakened Tokmanni’s sales somewhat at the beginning of the second quarter.
In particular, seasonal and sales of clothing products performed significantly better than the market. But the popular tax-free selling among Russian customers continued to be weak in the second quarter.
The merger of the Tokmanni store chains continues everywhere in Finland, which boosts Tokmanni’s operations.
”During this year, Tokmanni’s reputation and brand visibility have grown significantly throughout Finland. Customers recognize Tokmanni more easily and connect us to a low price level and diverse product line. This is reflected in Tokmanni’s good sales development and improved market position,” says CEO Heikki Väänänen.
The conversion within the Tokmanni brand modification is near completion, and the goal is that by the end of 2015, all the Group’s stores are Tokman. During the second quarter a total of six Tarjoustalo and Robinhood stores were converted Tokman.
”A new store concept was launched in Loviisa the Tokmanni Group achieved an important milestone in implementing the leg of its growth strategy. Utilization of the store concept in other stores will further strengthening our position as the Nordic region’s largest sale of discount consumer goods, ” says Väänänen.