ICA Sees Strong Online Sales Growth In FY 2018
Swedish retailer ICA Gruppen has reported a 42% growth in online sales for its ICA supermarket banner in financial year 2018.
Online sales in its pharmacy chain Apotek Hjärtat’s grew by 55%.
The retail group's EBIT for the financial year amounted to SEK 4.65 billion (€440 million) with an operating margin of 4%.
'A Good Year'
Chief executive of ICA Gruppen, Per Strömberg, said," 2018 was a good year for ICA Gruppen.
"We are securing our strong positions in the grocery retail and pharmacy markets and, in the meantime, digitalisation is providing us with new opportunities for synergies and cooperation within the Group. We are presenting good earnings growth overall."
ICA Gruppen continued to reduce its carbon footprint in 2018, with emissions having reduced by 61% since 2006.
Strömberg commented, "We aim to be a positive force that helps to promote a more sustainable society. We aspire to inspire our customers to make sustainable and healthy choices and to reduce our own carbon footprint.
"The target for ICA Gruppen’s own environmental impact is to be climate neutral by 2020."
The company is aiming to develop its store network and format strategy with a focus on convenience, urban areas, and rethinking the hypermarket.
For the online segment, the retail giant is targeting rapid growth, and will focus on expanding the product offering and strengthening last-mile delivery.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.