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Sweden’s ICA Sees 6.7% Sales Growth In September 2020

Published on Oct 12 2020 10:30 AM in Retail tagged: Sweden / Trending Post / ICA / Grocery

Sweden’s ICA Sees 6.7% Sales Growth In September 2020

Swedish retailer ICA Gruppen has posted a 6.7% year-on-year growth in sales to SEK 10.2 billion (€980 million) in September 2020.

Like-for-like sales for the period increased by 6.6%, the retailer added.

Divisional Performance

The company’s Maxi ICA Stormarknad retail chain emerged as the strongest performer with a like-for-like sales growth of 8.1% (9.1% reported), followed by ICA Kvantum with a 6.9% like-for-like growth (7.1%).

Proximity chain, ICA Nära saw like-for-like sales grow by 6.7% (7.0% reported) to SEK 1.5 billion (€140 million).

ICA Supermarket reported sales worth SEK 2.97 billion (€290 billion) in this period, up 4.8% on a like-for-like basis.

Year To Date Performance

On a year to date basis, the retailer has seen a 7.0% like-for-like growth in sales to SEK 97.1 billion (€9.3 billion).

Maxi ICA Stormarknad has generated sales worth SEK 30.9 billion in this period, up 9.4% on a like-for-like basis, while sales at ICA Supermarket increased by 4.6% on a like-for-like basis to SEK 28 billion.

Sales at ICA Kvantum amounted to SEK 23.5 billion (+7.2% like-for-like basis), while ICA Nära generated sales of SEK 14.6 billion (+6.4% like-for-like basis).

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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