A Swedish retailer has reported over one million kronor in Christmas item sales during the first two weeks of July, as it aims to generate SEK 600 million in just three weeks. The retail giant is enjoying a strong summer season, with June sales rising 12 percent year-on-year and consistent momentum continuing into July.
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According to CEO of Gekås Ullared, Patrik Levin, the increase stems largely from higher customer volume rather than price hikes. 'We made the decision not to increase margins. We will be the cheapest, really,' he stated, noting that volume accounted for 11 of the 12 percent sales growth in June.
The company's restaurant and accommodation businesses have also surged by 17.5 and 20 percent respectively. A sharpened product range, active social media presence, and collaborations with influencers have contributed to growth, especially in cosmetics and a new "youth" category.
Recent investments include a summer festival and a growing in-house eyewear factory that can deliver glasses in under three hours. Despite competition from global discount platforms like Temu and Shein, Gekås is focused on maintaining its momentum through the crucial upcoming weeks. In 2024, the retailer reported a turnover of SEK 5.1 billion and operating profit of nearly SEK 350 million.
Source: www.ehandel.se
