ICA Sweden switches IT solution for product supply – recognises impairment loss of SEK 148 million
ICA Sweden is conducting a large IT project aimed at modernising and improving the efficiency of assortment control, master data for product articles, and product supply. After evaluating a previously chosen solution for product supply, a new solution with better functionality and a more favourable investment calculation has been chosen. However, this entails that an impairment loss must be recognised for accumulated costs. The impairment loss amounts to SEK 148 million and will be recognised as a non-recurring item in Q4 2016 for ICA Sweden.
Of the three project components, the first two are proceeding according to plan and will be implemented in the near future. For the third component, product supply, the study that has been completed has shown that there are alternatives that better meet ICA Sweden’s needs than the previously chosen solution.
The entire ongoing IT investment is very extensive, and the total investment is worth approximately SEK 550 million during the period 2014–2019.
For more information
ICA Gruppen press service, Telephone number: +46 10 422 52 52
This information is such that ICA Gruppen is obligated to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication at 08:30 CET on Wednesday, 14 December 2016
ICA Gruppen AB (publ) is a leading retail company with a focus on food and health. The Group includes ICA Sweden and Rimi Baltic which mainly conduct grocery retail, ICA Real Estate which owns and manages properties, ICA Bank which offers financial services and Apotek Hjärtat which conducts pharmacy operations. The Group also includes Hemtex. For more information see icagruppen.se