Sweden's Axfood Sees Sales Boost From Willys, Snabbgross In Q2
Sweden's Axfood said that its Willys supermarket banner and its wholesale operation Axfood Snabbgross were the main drivers of its positive performance in the second quarter of its financial year.
Axfood reports sales growth of 6.7% in the quarter, to SEK 13.04 billion (€1.23 billion), with operating profits up 10.2% to SEK 601 million (€56.9 million) in the period.
Operating margin was 4.6%, while Axfood also noted that the new IFRS accounting standard had a positive effect on its operating profits, of SEK 44 million.
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