ICA Gruppen’s report for second quarter 2023
Higher sales but pressured margins owing to lower volumes and investments in lower prices.· ICA Gruppen’s Q2 sales grew to SEK 37,823 million (34,586). · Operating profit (excl. items affecting comparability) for ICA Gruppen was slightly higher than in the same period a year ago, SEK 1,629 million (1,511), but the operating margin narrowed slightly to 4.3% (4.4%). · ICA Sweden’s sales increased to SEK 26,666 million (24,936), but the operating margin decreased to 3.5% (4%) as a result of lower volumes and continued price investments. Profitability for ICA stores is being impacted by