Musti Group keeps on growing profitably

Musti Group is one of the most reliable growth companies in Finnish retailing. Musti grows on all fronts: from stores, online and in all countries (Finland, Sweden, Norway).

The company has grown Year on Year sales by 15+% for the last ten quarters with only one exception (Q1/2022). This strong growth has continued despite the high comparison figures from the pandemic era.

The Like for Like (LfL; same-store sales) has declined since the pandemic but turned back to a growth trend after 4,5% LfL growth in Q1. The company grew its same-store sales in the second quarter by 8,3%.

Also, online grew by 8,3%. However, its growth lagged behind the substantial growth from the store base with 17,8% growth.

The addition of 21 stores drove store growth.

Finland is still the most significant market, also growing strongly

Even though Sweden has grown rapidly, Finland remains the biggest market for Musti Group. In 2022 Finland has grown more quickly than Sweden. However, the fastest growth is coming from Norway, which has grown by 35+% for the last five quarters.