Sweden's ICA Sees Like-For-Like Sales Up 3.9% In October
Swedish retailer ICA has posted a 3.9% increase in like-for-like sales across its store portfolio for the month of October, with overall sales up 4.2% in the month.
Sales in ICA stores totalled SEK 9.93 billion (€930 million) in October, excluding VAT, while sales in the period January to October 2019 amounted to SEK 100.5 billion (€9.38 billion), which was up 3.0% compared to the previous year.
ICA Gruppen estimated the calendar effect for October to be +0.5%.
The group's Maxi ICA Stormarknad operation posted a 4.9% increase in like-for-like sales in October (+5.5% overall sales), to SEK 3.08 billion, making it the best-performing out of ICA's banners.
Elsewhere, ICA Kvantum posted a 4.0% like-for-like sales increase (+4.9% overall sales) to SEK 2.43 billion; ICA Supermarket saw a 3.3% increase in like-for-like sales (+3.1%) to SEK 2.96 billion; and ICA Nära posted a 3.0% like-for-like increase (+2.8%) to SEK 1.45 billion.
At 31 October 2019, the number of ICA stores was 1,271. ICA will publish its November sales figures on 9 December.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.