Sweden's Axfood Sees Sales Up, Albeit Impacted By Tough Comparatives
Swedish retailer Axfood has posted a 1.0% increase in consolidated net sales in the first quarter of its financial year, although chief executive Klas Balkow noted that its performance was impacted by "high comparison figures", one year on from the start of the pandemic.
Store sales across the group were up 2.4%, it said, to SEK 11.76 billion (€1.16 billion), while operating profit totalled SEK 565 million, an increase of 3.9%.
“Axfood had a solid start to the new year, but for understandable reasons the 2.4% growth in store sales was considerably lower than during prior quarters," Balkow said.
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