Swedish retailer ICA has reported a 1.9% year-on-year increase in sales to SEK9.8 billion (€970 million) in February of this year.
In January-February 2021, total sales amounted to SEK 20.1 billion (€2 billion), reflecting growth of 3.6% compared with the previous year.
The company estimated a negative calendar effect of -3.6% for February 2021 due to the leap day last year.
Divisional Performance
Maxi ICA Stormarknad reported 5.2% growth in sales (+4.3% like-for-like) to SEK3.2 billion (€320 million), while ICA Nära saw sales up 3.2% (+1.5 like-for-like) to SEK1.4 billion (€140 million).
The company’s ICA Kvantum banner reported 1.4% growth (+1.5% like-for-like) to SEK2.4 billion (€240 million).
In this period, sales in its ICA Supermarket business declined by 1.0% (-1.1% like-for-like) to SEK2.8 billion (€280 million).
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
