Growth lower than expected

The Swedish DIY retailer Byggmax expects second-quarter growth to be lower than expected. Quarterly sales up to 13 June were six per cent up on the comparable period last year after good results in April but a poor May. According to the company, this was caused by delays in new openings, lower sales figures in existing stores and problems with the new website. The increase in the first quarter had been just under 14 per cent. Byggmax intends to undertake this year’s final new opening in Trondheim in September. Once that outlet has been added, a total of 13 new stores will have joined the network: six in Sweden, four in Finland and three in Norway.