Swedish retailer
ICA Gruppen, has reported 8.1 per cent sales growth to SEK 30,366 million in first quarter (Q1) FY20 compared to sales of SEK 28,098 million in same period prior year. Company reported profit before tax were SEK 1,183 million (Q1 FY19: SEK 974 million). Operating profit during the quarter were SEK 1,309 million (SEK 1,115 million).
Swedish retailer ICA Gruppen, has reported 8.1 per cent sales growth to SEK 30,366 million in first quarter (Q1) FY20 compared to sales of SEK 28,098 million in same period prior year. Company reported profit before tax were SEK 1,183 million (Q1 FY19: SEK 974 million). Operating profit during the quarter were SEK 1,309 million (SEK 1,115 million).#
“Today we are reporting on a quite unusual quarter, characterised by a pandemic with global impact that none of us have experienced before. For us this resulted in a sudden and dramatic surge in sales as a result of hoarding, which for a time created major challenges for the entire operation,” Per Stromberg, CEO at ICA Gruppen, said in a press release.
Swedish retailer ICA Gruppen, has reported 8.1 per cent sales growth to SEK 30,366 million in first quarter (Q1) FY20 compared to sales of SEK 28,098 million in same period prior year. Company reported profit before tax were SEK 1,183 million (Q1 FY19: SEK 974 million). Operating profit during the quarter were SEK 1,309 million (SEK 1,115 million).#
Gross profit during the quarter were SEK 5,258 million (SEK 4,966 million).
Swedish retailer ICA Gruppen, has reported 8.1 per cent sales growth to SEK 30,366 million in first quarter (Q1) FY20 compared to sales of SEK 28,098 million in same period prior year. Company reported profit before tax were SEK 1,183 million (Q1 FY19: SEK 974 million). Operating profit during the quarter were SEK 1,309 million (SEK 1,115 million).#
The company attributed the sales growth during the quarter to the leap year day in February which accounted 0.7 per cent of the increase, and higher sales associated with the
Covid-19 crisis are estimated to have contributed 2.9 per cent.
Swedish retailer ICA Gruppen, has reported 8.1 per cent sales growth to SEK 30,366 million in first quarter (Q1) FY20 compared to sales of SEK 28,098 million in same period prior year. Company reported profit before tax were SEK 1,183 million (Q1 FY19: SEK 974 million). Operating profit during the quarter were SEK 1,309 million (SEK 1,115 million).#
ICA Sweden segment sales grew 8.3 per cent to SEK 21,430 million (SEK 19,793 million). The increase was mainly attributable to higher volume effects in the wholesale operations that occurred during the hoarding period in March, as reported. Online sales jumped 34 per cent to SEK 766 million (SEK 570 million).
Swedish retailer ICA Gruppen, has reported 8.1 per cent sales growth to SEK 30,366 million in first quarter (Q1) FY20 compared to sales of SEK 28,098 million in same period prior year. Company reported profit before tax were SEK 1,183 million (Q1 FY19: SEK 974 million). Operating profit during the quarter were SEK 1,309 million (SEK 1,115 million).#
Rimi Baltic sales increased 6.2 per cent to SEK 4,098 (SEK 3,774 million). The leap year day is estimated to have contributed 1.3 per cent to the growth during the quarter. Rimi Baltic launched e-commerce in Latvia during Q4 FY19 and due to the
Covid-19 pandemic, demand online has grown dramatically.
Swedish retailer ICA Gruppen, has reported 8.1 per cent sales growth to SEK 30,366 million in first quarter (Q1) FY20 compared to sales of SEK 28,098 million in same period prior year. Company reported profit before tax were SEK 1,183 million (Q1 FY19: SEK 974 million). Operating profit during the quarter were SEK 1,309 million (SEK 1,115 million).#
Apotek Hjärtat sales increased 12.5 per cent to SEK 4,087 million (SEK 3,634 million). E-commerce sales for pharmacy products grew 48 per cent during the quarter, and Apotek Hjärtat's e-commerce sales (including click & collect) grew by 53 per cent.
Fibre2Fashion News Desk (JL)
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