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ICA, the Scandinavian Ahold-owned chain, has seen its first-quarter sales rise by 6.5% to SEK23.3bn (€2.6bn), with operating profit up 39% to SEK681m (€76m). Sales in Sweden rose by 8.6% to SEK15.4bn, sales in Norway were up 1.6% to SEK5bn (down 1.5% in local currency terms), and sales at Rimi Baltic rose by 3.6% to SEK2.42bn.
New CEO Per Strömberg said: “I know there is room for improvement in various parts of the Group and I am now devoting all my energy to get to know our businesses so that Group Management and I together can formulate a strategy for ICA going forward.”
Douglas Holding, the German diversified retail group, reported a net loss for its fiscal first half, hurt by restructuring charges and writedowns at its book sales unit Thalia. The books-to-perfume retailer reported a loss of €63m, compared to a profit of €79m last year, although revenue rose by 2.7% to €1.92bn. For the full fiscal year, the group expects sales to grow to more than €3.4bn.
Reliance Retail, India’s second-largest retailer, has reported yet another loss for its latest fiscal year, even as it completed five years of operations. For the year ending 31 March 2012, the group reported a total net loss of Rs.3.51bn (€51m), although revenues rose by 25% to Rs.76bn (€1.1bn).
The group reported losses across all its formats – with the worst affected being Reliance Fresh (which saw its loss widen to Rs2.74bn), Reliance Digital (loss of Rs.551m), and Reliance Brands (loss of Rs.187m).
NamNews - Thursday 10th May 2012
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