Sweden's ICA Posts 1.9% Sales Increase In July
Swedish retailer ICA posted a 1.9% increase in sales in July, compared with the same month the previous year. Like-for-like sales were up 1.2%.
Sales across its portfolio stood at SEK 10.03 billion, excluding VAT. ICA Gruppen estimates the calendar effect for July to be -1.3%.
Across The Portfolio
Its Maxi ICA Stormarknad business was the best-performing division in terms of same-store growth, with a 2.1% increase in like-for-like sales, to SEK 2.943 billion.
ICA Kvantum saw a 0.7% increase in like-for-like sales, to SEK 2.3 billion, while ICA Supermarket was up 1.2% to SEK 3.1 billion. ICA Nära was up marginally (by 0.1%) to SEK 1.66 billion.
The retailer said that sales in the period from January to July 2017 stood at SEK 65.9 billion, an increase of 2.5% compared to the previous year. At 31 July 2017, the number of ICA stores in Sweden was 1,290.
© 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.