Sweden's ICA Sees Sales Rise By 2.6% In February
Swedish retailer ICA has said that sales across its store network rose by 2.6% in February, compared to the same period last year.
Like-for-like sales rose by 2.1%, the company said.
Its ICA Kvantum business was the strongest performing division, posting SEK 2.1 billion worth of sales, an increase of 3.7%, or 2.0% on a like-for-like basis.
ICA Nära posted sales of SEK 1.3 billion, a 3.4% increase (3.5% in like-for-like terms), while Maxi ICA Stormarknad posted sales of SEK 2.6 billion, which was 2.2% higher, or up 1.6% in like-for-like terms.
Its ICA Supermarket business posted sales of SEK 2.6 billion, a 1.5% increase, or 2.0% in like-for-like terms.
Overall, sales in ICA stores totalled SEK 8.6 billion excluding VAT, which is an increase of 2.6% compared with the same month in the previous year.
Sales over the first two months of the year amounted to SEK 17,627 million, an increase of 2.7% compared with the previous year.
ICA Gruppen estimates the calendar effect for February to be 0%.
© 2018 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.