Tokmanni's Q2 result was soft in many respects, as indicated by the profit warning issued by the company in July. During the quarter, the company faced challenges in each of its markets, resulting in a decline in like-for-like sales.

Tokmanni will release its Q2 results on Friday, August 16 at around 8:00 am EEST. We lowered our forecasts following the recent profit warning. The rest of the year looks challenging for the company and the rest of the retail sector as consumer spending remains selective and the critical low price point for discount retailers is threatened by the VAT increase in Finland in September.

Tokmanni announced new store openings in Denmark during 2024-25. Considering the objectives stated in connection with the strategy update the announced store openings were expected, and thus do not cause any forecast changes.

The target market for Kesko’s daily goods trade, Tokmanni and Lindex (department store and hypermarket chains) increased by 6% in May to 797 MEUR. Food products continued to grow steadily by about 5%, while the durable goods market increased by almost 9%.

The target market for Kesko’s daily goods trade, Tokmanni and Lindex (department store and hypermarket chains) decreased by 3.4% in April.