Kährs reported net sales of SEK 787 million ($71.6 million USD) in the second quarter of 2023, a 28% decline compared with the same period last year.
The company lost SEK 18 million ($1.6 million) compared with a profit of SEK 87 million ($7.9 million) in the second quarter of 2022.
“During the second quarter, we are seeing a significantly lower demand than in the record-setting quarter in 2022, during which Kährs had record high sales,” President and CEO Johan Magnusson said in a statement. “It is primarily demand in the residential segment of our main markets in Europe that continued to be weakened during the quarter compared to last year with a clear change in consumption patterns, with shrinking investments in private homes and interior products.”
