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Retail

Sweden’s ICA Sees Marginal Sales Growth In August

Swedish retailer ICA Gruppen has reported a 0.2% year-on-year growth in sales to SEK 11.2 billion (€1.1 billion) in August 2021.

Sales in like-for-like stores decreased by 0.1% compared to last year, the retailer added.

Maxi ICA Stormarknad saw sales up 1.1% (+0.3% on a like-for-like basis) to SEK 3.6 billion (€350 million), while sales at ICA Kvantum increased by 0.4% (-0.3% on a like-for-like basis) to SEK 2.7 billion (€260 million).

Sales at ICA Supermarket amounted to SEK 3.2 billion, down 0.6% (-0.5 on a like-for-like basis).

Convenience store chain ICA Nära reported a 0.5% decline in sales (+1 % on a like-for-like basis) to SEK 1,7 billion.

In June, the retail group saw store sales up 1.4% year-on-year to SEK11.8 billion (€1.2 billion), excluding VAT.

Year-To-Date Performance

In January-August 2021, sales amounted to SEK 88.2 billion, up 1.4% compared with the same period in 2020.

Maxi ICA Stormarknad witnessed sales worth SEK 28.5 billion in this period, up 2.5% year-on-year (+1.8% on a like-for-like basis).

Sales at ICA Kvantum amounted to SEK 21.2 billion, registering a growth of 0.9% (+0.5 on a like-for-like basis).

ICA Supermarket generated sales worth SEK 25.2 billion, up 0.4% year-on-year (+0.5% on a like-for-like basis).

Sales at ICA Nära grew by 2.1% (+3.0% on a like-for-like basis) to SEK 13.4 billion.

The calendar effect in August is estimated to be -0.2%, ICA noted.

Last month, 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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