Sweden's ICA Sees Like-For-Like Sales Up 5.5% In May
Swedish retailer ICA has posted a 5.5% increase in like-for-like sales in May, with all its store banners posting growth.
Its ICA Nära business posted the strongest growth, with a like-for-like gain of 9.6% for the month. Sales at the convenience store banner were SEK 1.6 billion.
Elsewhere its ICA Kvantum operation posted a 5.6% like-for-like increase (sales of SEK 2.45 billion), Maxi ICA Stormarknad posted a like-for-like gain of 4.5% (SEK 3.13 billion) and ICA Supermarket posted a 4.3% gain (SEK 3.15 billion).
Total sales in ICA stores for the month of May were SEK 10.32 billion (€1.01 billion), which is an increase of 5.8% on the same month the previous year. Sales between January and May 2018 stood at SEK 47.5 billion (€4.63 billion), which is 3.6% up on the previous year.
ICA estimates the calendar effect for the month to be +0.5%. As of the end of May 2018, ICA boasted a store portfolio of 1,284 outlets.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.