Sweden’s ICA Sees Sales Up 8.9% In October 2020
Swedish retailer ICA has posted an 8.9% year-on-year growth in sales to SEK10.8 billion (€1.05 billion) in October 2020.
Like-for-like sales for the period also increased by 8.9% compared to the same period last year.
The company’s Maxi ICA Stormarknad retail chain emerged as the strongest performer, registering a sales growth of 12.6% (11.6% on a like-for-like basis) to SEK3.5 billion (€340 million).
ICA Kvantum and ICA Nära grew sales by 9% in this period to SEK2.7 billion (€260 million) and SEK1.6 billion (€160 million), respectively.
ICA Supermarket saw a 5% growth in sales (6.1% on a like-for-like basis) to SEK 3.1 billion (€300 million).
Year To Date Performance
In the period between January to October, the ICA reported like-for-like sales growth of 7.2% (7.4% reported) to SEK107.9 billion (€10.52 billion).
Maxi ICA Stormarknad saw like-for-basis sales increase 9.6% (11% reported) in this period, to SEK34.4 billion (€3.35 billion), while ICA Kvantum reported like-for-like sales growth of 7.4% (8.1% reported), to SEK26.1 billion (€2.55 billion).
ICA Supermarket generated sales worth SEK31.2 billion (€3.04 billion), up 4.7% on a like-for-like basis (3.5% reported).
Proximity chain ICA Nära saw like-for-like sales growth of 6.7% in this period (6.6% reported) to SEK16.2 billion (€1.58 billion).
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.