ICA Sweden Posts 3.5% Sales Growth In November
Swedish retailer ICA has announced that sales increased by 3.5% in November, reaching SEK 9.17 billion, while sales in like-for-like stores were up 2.8%.
This brings the retailer's total sales for the year to date, from January to November, to SEK 103.3 billion, representing growth of 2.9% compared to the previous year.
The retailer saw sales growth across all its store banners in this period, including Maxi ICA Stormarknad (+3.9%), ICA Kvantum (+5.1%), ICA Supermarket (2.1%), and ICA Nära (+2.6%).
Overall, the number of ICA stores in Sweden was 1,286 at the end of October.
In terms of its international business, ICA Gruppen is finalising its acquisition of UAB Palink, which operates Lithuania's IKI grocery store chain.
The €213 million merger has been conditionally approved by the country's competition authorities, if ICA sells 17 of its Rimi stores in Lithuania before the deal closes.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.