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.
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.