Sweden's ICA Sees Improvements At Rimi Baltic, Apotek Hjärtat In Q2
Swedish retailer ICA Gruppen has reported a 1.5% increase in consolidated net sales in the second quarter of its financial year, to SEK 32.4 billion (€3.16 billion), noting that its Apotek Hjärtat and Rimi Baltic businesses both saw 'strong earnings improvements' in the period.
Operating profit in the period stood at SEK 1.45 billion (€140 million), roughly on a par with last year. The group said that the continuing COVID-19 crisis continued to impact both the group's profits and sales, following an estimated SEK 30 million impact in the group's first quarter.
Performance Across Divisions
In terms of the performance of its various divisions, ICA Sweden saw a 0.5% decrease in net sales in the quarter, however sales in the first half rose by 1.2%. Rimi Baltic's sales were up 6.5% in the quarter (+2.8% in the half year), while Apotek Hjärtat saw a 7.8% increase in sales in Q2 (and a -1.2% decline in sales across the half year).
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