During the second quarter of 2024, Hemtex, the Swedish home furnishing chain owned by Norwegian company Kid, reported significant growth in sales and turnover. Total turnover increased by 10.6% to NOK 797.8 million, with comparable sales rising by 9.2%. Online sales contributed 12.1% to the total turnover, remaining consistent with previous periods.
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Hemtex specifically saw a sales increase of 9.9% to SEK 295.6 million, with comparable sales up by 8.7%. Online shopping for Hemtex grew by 3.1%. Despite slightly missing consensus estimates, sales were still 2% above Pareto's own projections.
Throughout the quarter, Hemtex expanded its retail footprint by opening two new stores, while closing two others. Additionally, one store underwent renovation, and two were relocated. As of the end of the quarter, Hemtex operated a total of 128 stores across Sweden.
Source: www.dagenshandel.se