Online Sales Surge At Sweden's Axfood, Though Border Closures Hit Eurocash
Swedish retailer Axfood said that online B2C sales were up 157% in the fourth quarter of its financial year, as shoppers embraced click and collect options during the period.
The group posted a 7.4% increase in sales in the quarter, to SEK 12.05 billion (€1.2 billion) – a period in which Axfood "continued to grow faster than the market and with improved profitability", according to chief executive Klas Balkow.
He added that while the coronavirus pandemic has "required immense focus", the group is making progress on its "ambitious developments" for the future, and is looking forward to the new year from a "stronger market position".
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