Sweden’s ICA Sees Sales Growth Of 5.9% In April
Swedish retail group ICA has reported a 5.9% year-on-year growth in sales to SEK 10.98 billion (€1.04 billion) in April.
The company's like-for-like sales increased by 5.6% in this period.
Its Maxi ICA Stormarknad banner generated sales worth SEK 3.6 billion (€340 million), up 10.3% year-on-year (+8.7% on a like-for-like basis).
Sales at ICA Kvantum grew by 7.3% (+6.7% on a like-for-like basis) to SEK 2.7 billion (€250 million), while ICA Supermarket saw a 0.8% jump in sales (+2.1% on a like-for-like basis) to SEK 3.1 billion (€290 million).
The company's convenience division, ICA Nära, reported sales growth of 4.2% (+4.4% on a like-for-like basis) in this period to SEK 1.6 billion (€150 million).
The retailer estimates the calendar effect for its performance in April to be +1.4%.
January To April Sales
In the period between January to April 2020, the company generated sales worth SEK 41.4 billion (€3.91 billion), up 7.6% compared with the previous year (+7.4% on a like-for-like basis).
Maxi ICA Stormarknad reported the highest growth in sales of 10.6% to SEK 13.2 billion (€1.25 billion), followed by ICA Kvantum with an 8.4% increase in sales to SEK 10.2 billion (€960 million).
© 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.