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Rimi Baltic, Apotek Hjärtat Weigh On ICA Sweden In Second Quarter

Published on Aug 20 2020 8:17 AM in Retail tagged: Featured Post / Sweden / ICA / Rimi Baltic / Apotek Hjärtat / Paywall

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.

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