KESKO CORPORATION STOCK EXCHANGE RELEASE ... - Euroland

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the loss during the same period in 2000 was EUR 1.2 million
greater. The result was affected by the initiation costs of the
three department stores opened at the end of the previous year.
The result for the whole year is expected to be better than in
2000.
In the sports trade, retail sales have developed much better than in the
previous year. The net sales of Kesko Sports also progressed well, increasing by
26.8 percent. The long winter had a favourable effect on the trade in winter
sports goods.
Sales of home technology easily fell short of the previous
year’s level. The net sales of Kesko Musta Pörssi were 16.4
percent down on the year before. The greatest reason was the
drastic drop in sales of television sets. The drop is believed
to be a result mainly of consumers postponing their purchases
until digital TV programmes start in the autumn. On the other
hand, the trade in information technology and mobile phones has
advanced favourably.
The net sales of Kesko Shoes increased by 1.4 percent. Some of
the K-kenkä chain’s stores were organised into a new group
called Kenkäexpertti. At the end of the period under review,
there were 33 stores operating in the K-kenkä chain, 28 stores
in the Andiamo chain and 46 stores in the Kenkäexpertti group.
In April, after the period under review, an Intersport megastore
was opened in Lappeenranta. Musta Pörssi Maailma stores will be
opened in Turku in the spring, in Oulu in the summer and in
Lappeenranta towards the end of the year. Intersport megastores
will be opened in Tampere and Turku during the autumn. An
Intersport store and a Musta Pörssi store will be established in
the shopping centre that will be completed in Forssa towards the
end of the year. In addition, the premises for an Intersport
store and an Andiamo store will be built in the Mylly shopping
centre at Raisio that will be opened towards the end of the
year. An Andiamo store will be built in the Omena shopping
centre to be opened in Espoo in September.
Keswell´s result for the whole year is forecast to exceed the
previous year’s level.
Kesko Agriculture and Machinery
The net sales of Kesko Agriculture and Machinery were EUR 162
million, an increase of 13.6 percent, which was slightly better
than expected. The operating profit was EUR 1.7 million (EUR 1.9
million). Investments totalled EUR 0.5 million.
Kesko Agriculture´s sales increased in line with expectations by
7.9 percent. The good harvest in 2000 was reflected in the sales
volumes of grain. The delivery difficulties of the Zetor factory