Scandinavian retail chain ICA has reported a first-quarter sales increase of 6.5 per cent to SEK23.3 billion (€2.6 billion). For its first quarter, operating profits increased 39 per cent to SEK681 million (€76 million). Sales in Sweden rose by 8.6 per cent to SEK15.4 billion.
“I know there is room for improvement in various parts of the Group and I am now devoting all my energy to get to know our businesses so that Group Management and I together can formulate a strategy for ICA going forward,” said the group’s new CEO Per Strömberg. Sales in Norway rose 1.6 per cent to SEK5 billion. Meanwhile, sales at Rimi Baltic increased 3.6 per cent to SEK2.42 billion. (16 May) © 2012 ESM: European Supermarket Magazine
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