Rimi Baltic, Apotek Hjärtat Weigh On ICA Sweden In Second Quarter
While Swedish retailer ICA posted a consolidated net sales increase of 4.6% in the second quarter of its financial year, all aspects of its businesses were impacted by the COVID-19 pandemic, particularly its Rimi Baltic and Apotek Hjärtat operations.
In Sweden, the business posted SEK 25.5 billion (€2.47 billion) in sales for the quarter, up from SEK 21.9 billion (€2.12 billion) a year earlier, despite both the COVID crisis and increased food price inflation, with the retailer noting that increased consumption at home helped boost its quarterly performance.
The group's Swedish e-commerce arm surged during the quarter, growing by 165% in June alone, with online sales as a share of total store sales more than doubling.
Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.
A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!