Tokmanni's second-quarter sales grew very strongly

Tokmanni Group Corporation        Inside information        2 July 2020 at 9:00 am

Tokmanni’s sales in the second quarter of 2020 totalled EUR 285.8 million (239.9), an increase of 19.1%. Like-for-like sales grew by 17.4%. In the second quarter, online store sales accounted for 1.4% (0.6%) of sales. Sales in January–June 2020 were EUR 484.8 million (428.0), up 13.3%. Like-for-like sales increased by 11.7%. Online sales accounted for 1.1% (0.6%) of sales.

The product categories offered by Tokmanni are well suited to a situation in which Finns have spent more time at home and at their cottages and have favoured domestic tourism. The increase in sales of leisure, gardening and home improvement products and food products was particularly strong in the second quarter. On the other hand, clothing sales were somewhat lower than the previous year.

Tokmanni estimates that the comparable gross margin will fall by about one percentage point in the second quarter compared with the same period a year before. This development was due to Tokmanni's active measures to increase sales and different sales structure from the previous year.

In the absence of guidance, Tokmanni will exceptionally provide advance information on sales in the second quarter and January–June. The guidance for 2020 will be issued in conjunction with the half-year financial report to be published on 29 July 2020.

Further Information, please contact

Mika Rautiainen, CEO
tel. +358 020 728 6061, mika.rautiainen(at)tokmanni.fi

Markku Pirskanen, CFO
tel. +358 20 728 7390, markku.pirskanen(at)tokmanni.fi

Tokmanni in brief

Tokmanni is the largest general discount retailer in Finland measured by number of stores and revenue. In 2019, Tokmanni’s revenue was EUR 944.3 million and it has approximately 3,700 employees. Tokmanni is the only nationwide general discount retailer in Finland, with almost 200 stores across Finland.

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Nasdaq Helsinki
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