K-stores have lost some of their market share to their more down-market rivals in spite of the fact that the Finnish grocery market has continued to grow regardless of the recession. Between January and September, the net sales of Kesko Food fell by 1.3 per cent. The S Group, in contrast, revealed last week that its grocery sales increased by 1.7 per cent year-on-year over the said period.
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Rising food prices hit K-stores
Matti Halmesmäki, the CEO at Kesko, estimates that K-stores have lost less than one per cent of their market share.