ICA Gruppen is a leading retail company with a focus on food and health. The Group includes ICA Sweden and Rimi Baltic, which conduct primarily grocery retail through 1,560 stores; Apotek Hjärtat, which conducts pharmacy operations through 385 pharmacies; ICA Real Estate, which owners and manages properties; and ICA Bank, which offers financial services.
The business is based on the so-called ICA idea, which combines entrepreneurship with economies of scale and efficiency. Through cooperation and development of mutually supporting businesses, ICA Gruppen has built up customer trust, good profitability and a leading market position.
ICA Gruppen’s core business is grocery retail. Surrounding this a number of businesses have been built up which individually and in combination contribute to an attractive customer offering and stable market position. All of the businesses are to be profitable and support the core business.
In recent years ICA Gruppen – as part of the Groupwide strategy that was adopted in 2012 – has developed its existing operations, carried out substantial investments and acquisitions (including Apotek Hjärtat), and divested underperforming businesses (including ICA Norway). This refinement has contributed to higher profitability and better efficiency within the Group.
A clear trend in grocery retail is the ongoing digitalization, which affects all parts of ICA Gruppen’s business in essentially all areas. A central part of this is the rapid growth of e-commerce, where having a leading position will be a critical success factor going forward. At year-end ICA Gruppen had 204 stores affiliated with the e-commerce venture that was begun across a broad front in 2015.
Focus areas for value creation
- Improved margins for ICA Sweden through full efficiency in new logistics structure
- Continued investment in online business with greater cost effectiveness
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