ICA Gruppen’s report for the third quarter 2023
Price investments start to have an effect – improved volume growth and stable earnings· Sales in ICA Sweden’s grocery retail business increased by 4.1% compared with the same quarter in 2022 at the same time as earnings development was stagnant and the margin fell from 4.7% to 4.5%. · Sales for ICA Gruppen as a whole rose in Q3, mainly driven by high inflation, to SEK 36,943 million (SEK 34,544 million in 2022). The operating margin landed at 5.3% (4.9%) and operating profit at SEK 1,815 million (1,629). · Rimi Baltic delivered stable earnings but competition is razor-sharp with a