ICA Sweden Records 3.4% Sales Increase In October
Swedish retailer ICA has announced that sales increased by 3.4% in October, reaching SEK 9.22 billion, while sales in like-for-like stores were up 2.6%.
This brings the total sales for the year to date in Sweden to SEK 94.204 billion, representing a 2.9% increase compared to 2016.
The retailer saw sales growth across all its store banners in this period, including Maxi ICA Stormarknad (+3.3%), ICA Kvantum (+4.2%), ICA Supermarket (3.1%), and ICA Nära (+2.6%).
Overall, the number of ICA stores in Sweden was 1,283 at the end of October.
In terms of its international business, ICA Gruppen announced last month that its acquisition of UAB Palink, which operates Lithuania's IKI grocery store chain, has been conditionally approved by the country's competition authorities.
ICA proposed the sale of 17 of its Rimi stores in Lithuania to facilitate the €213 million merger.
© 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.