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Retail

Sweden's ICA Sees Sales Rise In January

Swedish retailer ICA has posted a 5% year-on-year increase in sales in January, amounting to SEK 9,803 million (€930.18 million) excluding VAT.

Like-for-like sales in stores grew by 4.8% for the month.

Divisional Performance

The group's ICA Kvantum division reported a 6.8% growth in sales (+5.1% on a like-for-like basis), while Maxi ICA Stormarknad was up 6.1% (5.4% on a like-for-like basis).

ICA Nära, the company's convenience division, reported sales growth of 5.0% (+4.9% on a like-for-like basis), and ICA Supermarket grew its sales by 2.4% (+3.8% on a like-for-like basis).

The retail group, which operates around 1,269 stores, has estimated the calendar effect for its performance in January to be +1.4%.

© 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.

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