Swedish retailer Axfood posts modest earnings growth as retail sales climb 2.1% year-over-year in the second quarter.
Axfood AB reported second-quarter net sales of SEK 23,197M, up 0.9% year-over-year, driven by a 2.1% increase in retail sales to SEK 20,713M. Earnings per share reached SEK 2.94, a 3.3% annual gain.
Operating profit rose 3.2% to SEK 964M, while adjusted operating profit increased 1.4% to SEK 972M. The operating margin improved to 4.2% from 4.1% in the same period last year.
The results reflect steady demand in Sweden’s grocery sector despite broader economic pressures.