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

Sweden's ICA Gruppen Sees Sales Rise 3.4% In June

By Steve Wynne-Jones
Share this article
Sweden's ICA Gruppen Sees Sales Rise 3.4% In June

Swedish retailer ICA Gruppen saw its sales rise by 3.4% in June, according to an update posted by the retailer recently. Like-for-like sales were up 2.6%.

In the month of June, sales across the Swedish ICA stores totalled SEK 10.09 billion (€1.05 billion) excluding VAT, which is an increase of 3.4% on the same month in the previous year.

In the period from January to June, sales were SEK 55.95 billion (€5.82 billion), which is 2.6% higher than the same period last year.

ICA Gruppen said that it estimates the calendar effect for June to be +1.4%.

As of 30 June 2017, the number of ICA stores in Sweden was 1,291.

ADVERTISEMENT

Sequential Deceleration

Commenting on the figures, Barclays European Food Retail Equity Research said, "ICA reported its June sales, showing a sequential deceleration at all banners after taking into account the positive calendar impact.

"LFL sales ex. calendar deteriorated sequentially at all ICA banners, including the Maxi ICA Stormarknad hypermarkets (+2.3% in June vs +3.3% in May), ICA Kvantum supermarkets (+1.6% vs +2.3% the month before), ICA supermarket (+0.3% vs +2.3% in May) and ICA Nära convenience stores (+0.2% vs +1.2% the month before)."

© 2017 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.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

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. You can unsubscribe at any time.