UK-based frozen-food retailer Iceland has announced a like-for-like sales increase of 0.8% in the second quarter of its financial year.
The performance is up markedly from the like-for-like decline that it posted in Q1, and the retailer attributes this turnaround to new product development, longer opening hours, and the success of its 'Power of Frozen' campaign, among other measures. EBITDA was in line with Q2 of last year.
The retailer has also expanded the number of Food Warehouse stores that it operates, with eight new openings in the first half of this year, bringing the total to 20. As of 9 September, the group operates a total of 872 UK stores.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
