Ahold-owned food retailer ICA’s Scandinavian net sales jumped 5.7% to Skr46.6bn (£3.7bn) for the first half of this year, although operating profit fell 7.7% to Skr484m (£67m). ICA is struggling in Norway, where despite increased sales, its operating loss widened.
In the Baltics, net sales in local currency decreased 5.8%, mainly due to lower sales caused by falling consumption in the Baltic countries as well as margin pressure resulting from various pricing and sales campaigns. In its Swedish home market, the retailer’s net sales grew 5.6%.
Separately, net income for parent Ahold’s second quarter fell to e195m ($278m) from e336m in the same period the previous year.