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04 May 2016

Swedish DIY retailer Byggmax increased its sales considerably in the first quarter. Sales rose by 29.5% compared with the same period in the previous year to SEK 737.9 m. Of this figure, the Skånska Byggvaror Group, which was acquired by Byggmax on 4 January 2016, accounted for SEK 101.7 m. Six new store openings between January and March comprised one Byggmax store in Sweden and five Skånska Byggvaror stores in Sweden. Five stores were switched to the Byggmax 2.0 format. All Byggmax stores are expected to be converted to this new format by May 2016. The group currently operates a total of 131 stores in Sweden, Norway and Finland. Due to the voltatile property market and related costs, the expansion target of 10 to 15 new Byggmax stores might not be achieved this year, according to the quarterly report. Five new Skånska Byggvaror stores are also to be opened.
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