High sales decline at Byggmax slows to some extent

Sales of the Swedish DIY group Byggmax were down by 13.8 per cent in the third quarter compared with the same quarter last year. Sales amounted to SEK 1.960 billion (166.112 million euros). On a like-for-like basis, sales fell by 15.5 per cent.

This means that the decline in sales has slowed down a little. For the first three quarters, the decline was 16.0 per cent to SEK 5.115 billion (433.521 million euros). The like-for-like decline was 17.3 per cent compared with January-September 2022.

CEO Karls Sandlund cites general and expected consumer reticence in the quarterly report. The number of customers had fallen slightly, but above all, customers are undertaking fewer large projects than a year ago. On the other hand, sales in connection with smaller home improvement projects continue to be positive, especially in the paint, bathroom and tile categories, he says.

The Byggmax boss also points to a strong e-commerce offering from the group. This now accounts for 19 per cent of sales.