Tokmanni struggling to grow after pandemic jump

The discount chain Tokmanni has been one of the biggest pandemic winners with multiple double digit Like for Like (LfL) sales growth in 2020 and 2021. After the rapid growth, it has been difficult to maintain growth. For the last two quarters Tokmanni has reported declining LfL sales. Also the overall sales growth has plateaued close to zero.

Despite the slowing growth, Tokmanni is operating 15% higher revenues to Q1/2020.

When comparing Tokmanni to Stockmann & Lindex, which have grown encouragingly over the last quarters, two year perspective illustrates some differences. Despite the strong growth of Lindex, it is still trailing Tokmanni’s growth since Q1/2019.