Byggmax makes up ground

The Swedish DIY store operator Byggmax has made up some ground in the third quarter, notching up an increase in like-for-like sales of 1.1 per cent. Sales overall rose by 7.5 per cent to SEK 1.1752 bn. The company opened five new stores between July and September. Sales in the period from January to September also increased by 3.2 per cent to SEK 2.5832 bn, although sales on a comparable store area declined by 2.1 per cent in the first three quarters. CEO Magnus Agervald has said in the interim report that the company has revised its market potential expectations upwards. It now sees potential for 180 Byggmax DIY stores in the region, 25 more than in the previous estimate. 95 stores in all are planned in Sweden (plus ten), 60 in Norway (plus 15) and 25 in Finland. Byggmax currently operates 105 outlets.