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Home BUSINESSS-Group earns profit despite sales drop
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Fri, 12 Feb, 2016 12:07:14 AM
FTimes – STT Report, Feb 12
S Group headquartered in Helsinki. Photo – Lehtikuva.
Retailers S-Group's operational earnings rose to euro 265 million in 2015 from euro 226 million in the previous year. 
However, retail sales in 2015 fell by 3.4 percent, driven partly by price reductions.
According to S-Group’s executive director Taavi Heikkilä, the number of custom-ers and S-Group's market share have grown significantly due to the discount campaigns.
The Finnish Commerce Federation predicts slight development across the entire trade sector while Heikkilä hopes that consumers' purchasing power will not be impacted by tax increases.
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