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Retail

Sweden’s ICA Sees LFL Sales Up 0.6% In September

Swedish retailer ICA Gruppen has reported a 0.6% year-on-year sales growth in like-for-like stores in September 2021.

Total sales for the period amounted to SEK 10.3 billion (€1.02 billion) excluding VAT, which represents a 0.9% growth in sales, the company noted.

On a like-for-like basis, convenience store chain ICA Nära saw the highest growth in sales of 1.9%, to SEK 1.6 billion (€160 million). It was followed by Maxi ICA Stormarknad, registering a sales growth of 1.1% to SEK 3.3 billion (€330 million).

The calendar effect in September is estimated to be +0.2%, the retailer noted. ICA Gruppen’s store network comprised 1,266 stores as of 30 September 2021.

ICA Supermarket reported a marginal 0.1% growth in like-for-like sales to SEK 2.97 billion, while ICA Kvantum remained flat with sales amounting to SEK 2.5 billion.

In August, the Swedish retailer saw a 0.2% year-on-year growth in sales to SEK 11.2 billion (€1.1 billion).

Year-To-Date Performance

The company’s total sales amounted to SEK 98.5 billion between January to September 2021, up 1.2% on a like-for-like basis compared to the same period in the previous year.

ICA Nära saw the highest like-for-like sales growth of 2.9% to SEK14.9 billion, followed by Maxi ICA Stormarknad at 1.7%, with sales amounting to SEK 31.7 billion.

ICA Supermarket and ICA Kvantum witnessed like-for-like sales growth of 0.4% in this period, with sales amounting to SEK 28.2 billion and SEK 23.7 billion, respectively.

ICA Gruppen 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.

© 2021 European Supermarket Magazine. Article by Dayeeta Das. For more Retail news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

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