ICA Sweden has posted a 2.4% increase in like-for-like sales in January 2018, with total sales up 2.8%.
Sales in its ICA Nära proximity banner performed strongest, registering a 3.3% increase in like-for-like sales, while its ICA Supermarket business was up 2.3% in like-for-like terms.
ICA Kvantum saw a 2.2% increase in sales, while its Maxi ICA Stormarknad business posted a 2.1% increase in like-for-like sales.
Sales in ICA stores totalled SEK 9.06 billion excluding VAT in January, which is an increase of 2.8% compared with the same month in the previous year.
ICA Gruppen estimated the calendar effect for January to be 0%. As of 31 January, the total number of ICA stores was 1,287.
Dark Store Investment
Elsewhere, ICA has announced that it plans to invest in a ‘dark store’ fulfilment solution for its growing e-commerce operations.
The facility, which will be located in Johanneshov, Stockholm, is set to open in the third quarter of this year, and will facilitate the picking of around 12,000 grocery items.
“E-commerce is now so large in Stockholm that the time is ripe to offer stores central picking and delivery,” commented Anders Svensson, CEO of ICA Sweden.
“We know that many stores feel they do not have space or time to handle picking in stores, and with this solution we can also provide an improved customer offering with generous delivery times that we know are sought after by many customers in Stockholm.”
ICA’s online sales grew by a total of 50% in 2017 compared to 2016, to more than SEK 1.2 billion. Some 200 stores are supported by ICA’s e-commerce operations, while some 570 offer the group’s Matkasse meal kit service.
Commenting on the group's performance, Barclays European Food Retail Equity Research said, "Given the continuing positive food inflation estimated at c2.5% in Sweden, ICA’s weak January sales performance imply negative volume growth at some of the group’s banners."
© 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.
