Hot Summer A Mixed Blessing For Swedish Grocer ICA

An unusually warm spring and early summer in Sweden helped lift sales at retailer ICA Gruppen's stores in the countryside as people escaped the city, but also pushed transport costs up sharply.

ICA Gruppen, owner of the country's biggest grocery retailer ICA Sweden, reported a drop in second-quarter profit as higher costs overshadowed sales growth, sending its shares down 6% to a near two-year low.

More Sales In Countryside Stores