Cold winter hits Byggmax as first-quarter sales miss market expectations

A cold February negatively affected building materials retailer Byggmax. Sales for the first quarter amounted to SEK 880 million, below market expectations of SEK 924 million.

"The cold weather in February dampened sales and resulted in a later seasonal upturn than the year before. Demand in outdoor-related categories was particularly affected, while energy products sold better than normal," wrote CEO Karl Sandlund in the report.

The company's operating loss of SEK 127 million was also slightly higher than market expectations.