Axfood's sales May 2004

Axfood's sales May 2004 Net sales* (excluding VAT) for stores in Sweden owned by the Group, increased by 7.6% for the month of May, of which same-stores increased by 4.3%. Consolidated net sales for May totalled SEK 2,804 m (2,789), an increase by 0.5% compared with the same period a year ago. Under the period January-May 2004 the increase was 8.5% for stores in Sweden owned by the Group, of which same-stores increased by 4.5%. Consolidated net sales totalled SEK 13,869 m (13,652), an increase of 1.6%. Of total sales, the Swedish operations accounted for SEK 11,747 m (11,552) and Spar Finland for SEK 2,122 m (2,100). Hemköp's sales decreased by 0.2% during the month, of which same-stores increased by 2.5%. Accumulated sales increased by 0.5%, of which same-stores increased by 4.0%. Willys grew its sales by 13.3% during the month, of which same-stores increased by 4.9%. Accumulated sales increased by 14.1%, of which same-stores increased by 5.3%. Willys hemma decreased its sales by 2.6 % during the month, of which same-stores decreased by 1.8%. Accumulated sales increased by 2.2%, of which same-stores increased by 1.0%. Spar Finland's sales decreased by 2.8% or by 2.5% in local currency. Accumulated sales increased by 1.0%, or by 1.1% in local currency. For stores owned by the Group the increase in local currency was 1.9%, of which same-stores decreased by 5.6%. For stores owned by the Group accumulated sales in local currency increased by 6.5% of which same-stores decreased by 1.6%. * The figures are preliminary, definite figures will currently be presented at www.axfood.se under Financial info. Preliminary sales figures will be presented on the following dates: June 22/7, July 4/8, Aug 3/9, Sep 20/10, Oct 3/11, Nov 3/12 For further information, please contact: Lars Nilsson, Executive Vice President and CFO, tel. +46-8-553 998 11, +46-70-569 66 33 Axfood AB is a retail food group comprising the wholly owned store chains Hemköp, Willys and Willys hemma and wholesale operations through Dagab and Axfood Närlivs. Additionally, Axfood works with a large number of independent merchants who are tied to Axfood by franchising or other agreements. In all the Group comprises some 500 stores in Sweden, of which about 220 are wholly or partly owned. Consolidated annual sales are approximately SEK 33 billion, with approximately 8,600 employees. Axfood has approximately 290 stores in Finland, of which 80 are wholly owned and the remainder are operated by independent merchants. Axfood has a market share of 18% in Sweden and approximately 8% in Finland, making it one of the largest, listed retail food groups in the Nordic region. The company is listed on the Stockholm Stock Exchange 0-List, Attract 40. Axel Johnson AB is the principal owner with approximately 45% of the shares. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/06/03/20040603BIT20700/wkr0001.pdf The entire report

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Axfood AB conducts retail trade through the wholly owned store chains Hemköp, Willys and Willys hemma and wholesale trade through Dagab and Axfood Närlivs. In addition, Axfood collaborates with a number of proprietor-run stores that are tied to Axfood through agreements.

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