This July, Swedish retailer ICA posted a 4.1% like-for-like increase in sales, of SEK 10.49 billion (€1.01 billion), excluding VAT.
The retailer posted an overall sales increase of 4.6%, with the calendar effect for July estimated at -0.5%.
Sales for the January-July period stood at SEK 68.55 billion (€6.62 billion) – an increase of 3.9% compared to the previous year.
Portfolio Performers
Across its store portfolio, its ICA Nära convenience store business posted the strongest level of growth, with a like-for-like sales increase of 7.5% (overall growth of 7.1%), to SEK 1.8 billion (€0.17 billion).
Its ICA Supermarket division posted like-for-like growth of 4.4% (overall growth 4.4%) for the period, to SEK 3.3 billion (€0.32 billion), while ICA Kvantum posted like-for-like growth of 3.7% (overall growth 4.4%), to SEK 2.36 billion (€0.23 billion).
The group's Maxi ICA Stormarknad division posted a 2.3% increase in like-for-like growth (overall growth 3.6%), to SEK 3.07 billion (€0.3 billion).
As of 31 July 2018, the number of ICA stores was 1,284. In June, ICA posted a 4.3% like-for-like sales increase across its portfolio.
The start of July provided a boost to Swedish retailers, with the Swedish national football team's appearances at the World Cup and a Round of 16 victory over Denmark on 3 July, followed by a quarter-final defeat to England on 7 July.
© 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.
