Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

Sweden's ICA Sees Sales Up 5.7% In November

Swedish retailer ICA Gruppen has posted a like-for-like sales increase of 5.7% across its store estate in November.

Sales across the group's portfolio stood at SEK 10.47 billion (€1.03 billion) in the month, the group said, while sales in the January to November period were up 7.2% to SEK 118.4 billion (€11.6 billion).

Banner Performance

In November, the group's Maxi ICA Stormarknad banner was the group's strongest performer, seeing like-for-like sales up 8.4%, while its ICA Nära convenience store business was up 7.6%.

ICA Kvantum was up 3.8% on a like-for-like basis, while ICA Supermarket rose by 3.4%, it added.

ICA Gruppen estimated a negative calendar effect of 2.1% in November. As of 30 November, the number of stores across the group's portfolio totalled 1,266.

Commenting on its performance, Barclays European Food Retail Equity Research said, 'Performances marked a muted sequential acceleration across almost all banners and remain dynamic by historical standards.'

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days