18.02.10 13:20

The improvement was caused mainly by better gross margins and reduced administration costs; the new strategy under Antonio. For the whole of 2009, ICA Norge had an operating deficit of 506 million SEK. The larger part of the deficit is from the first half of 2009. But ICA Norge must increase turnover. In the fourth quarter the turnover increased by 3.1 percent, below the average for the grocery retail trade. The most positive is the re branding of Rimi; the 76 stores that have been rebuilt increased turnover by ten percent on average. - There is still much hard work ahead to increase turnover and achieve a stable development of the result of ICA Norge, but we are on the right track, says CEO of ICA, Kenneth Bengtsson. 85 new stores will be converted to the new Rimi concept.

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