Swedish retail group Axfood has reported a strong performance in the third quarter with increases in both sales and profits. Axfood AB operates 244 stores under the banners PrisXtra, Willy’s and Hemkop.
Consolidated sales saw a boost of 3.5% during the quarter, to SEK 9,044 million (about €1,044 million), with like-for-like sales remaining unchanged. The company’s nine-month performance showed a 4.5% increase in sales to SEK 27,054 million.
The group reached its goal in September of 25% Private Brand penetration, which is a vital part of its strategy for “profitable growth”. The Garant Private Brand has been successfully introduced in all of the banners and its popularity with customers is credited with the increase.
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