reports
Quarterly Comment: Iceland Foods
​UK-based food retailer Iceland Foods has released sound 3Q16/17 results for the period ended December 30, 2016. LFL sales rose by a nice 3.8% yoy in Q3 thanks to a good Christmas, outperforming the UK grocery market (+1.8%, with food inflation at 0.2%). The frozen range (about 1/3 of sales), which remains at the core of the product diversification strategy, continues performing well. The group thus confirmed the improvements seen in Q2, when LFL turned positive at +0.8% after a prolonged peri...
3Q15/16: Upside on margins led to decent results
​UK-based food retailer ICELAND FOODS has published its 3Q15/16 results ended January 1st, 2016, which were again slightly better than what we have expected in terms of EBITDA (£47m vs. SRe of £45m). The UK market remains challenging for food retailers, impacted by intense competition, food deflation (-1.8% in Q3) and the rise of discounters (Aldi and Lidl). The group tends to underperform its major competitors on the ambient and chilled product categories. However, the marketing focus is on...
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