Swedish retail group Axfood has reported a slight rise in like-for-like group sales for its 2012 fiscal year, in a performance that CEO Anders Stralman described as “not entirely satisfactory”.
Group consolidated wholesale and retail sales rose 4.3 per cent to SEK 36,306 million (€4,221 million) during the year, while rising just 0.3 per cent on a like-for-like basis. Full-year net profits rose by 4.5 per cent to SEK895 million, while operating profit amounted to SEK 1,192 million.
Like-for-like sales at its Willys banner were flat and rose 2 per cent at its Hemkop format, on the same basis. PrisXtra saw a drop of 8.6 per cent in like-for-like sales.
The group plans to expand its store network in 2012, continuing the modernisation of its stores, and introducing a loyalty programme at Willys.
Stralman noted the retailers' achievement in attaining a 25 per cent private label share during 2012, which he said "is the highest level ever achieved for Axfood or any other retailer in Swedish food retail market." This success was driven by the roll out of its group-wide Garant own brand.
Axfood's goal for 2013 is to achieve an operating profit at the same level as in 2012. (8 Feb)
© 2013 - ESM: European Supermarket Magazine by Sadhbh Connor
