Kährs Group Sales Fall 31% in Q3 2023

Kährs Group reported a net sales decline of 31% during the third quarter of 2023, bringing in SEK 635 million ($60.62 million USD).

The Sweden-based company’s profits fell to SEK 3 million ($286,393 USD).

“The lower demand in the residential segment of Kährs’ main markets in Europe is continuing to have a negative impact on sales also in the third quarter,” President and CEO Johan Magnusson said in a statement. “Decreased consumption driven by a decrease in disposable income combined with higher interest expenses for housing consumers are having a negative impact on consumers’ willingness to purchase interior products.”