ICA Gruppen Attributes Sales Decrease To Easter Date

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ICA Gruppen Attributes Sales Decrease To Easter Date

Sales at Swedish retailer ICA Gruppen totalled SEK 9,334 million (€972 million) ex-VAT in March 2017, the company announced in a trading update. This represents a decrease of 0.6% compared with the same month in the previous year.

Sales in January-March 2017 amounted to SEK 26,502 million (€2,760 million), an increase of 0.4% compared with the previous year.

ICA Gruppen estimates the calendar effect for March to be -2.0%. The group attributes this effect to the fact that Easter fell in March last year.

At 31 March 2017, the number of ICA stores in Sweden was 1,294.

Store sales for April will be published on 9 May.

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Gavin Ryan. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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