ICA: Great in Sweden, weak in Norway

 - Even if some of the activities in Norway are growing, the turnover and the result are not in line with expectations. We are increasing the speed of restructuring and are analyzing the effects. In time we do believe that the dynamic in the Swedish market, will be the same in Norway, said CEO of ICA Kenneth Bengtsson, when he presented the first quarter results. ICA had a total turnover of 17.091 billions SEK and a result of 465 millions SEK. The result is almost twice as high, compared with the same period last year. But in Norway almost all the chains owned by ICA are losing terrain, except from ICA Supermarked. ICA Supermarked increased its turnover on comparable units with 5.3 per cent. Rimi on the other hand reduced its turnover by 4.1 per cent. The turnover of ICA Norway fell by 0.9 per cent on all comparable units to 4.759 billions NOK.