Axfood's sales January -- June 2003

| Source: Axfood Axfood

STOCKHOLM, Sweden, July 23, 2003 (PRIMEZONE) -- Axfood's sales January -- June 2003: Net sales* (excluding VAT) for stores in Sweden owned by the Group, increased by 17.4% for the month of June, of which same-stores increased by 6.5%. Consolidated net sales for June totalled SEK 2,848 m (2,688), an increase of 6.0% compared with the same period a year ago.

Under the period January-June 2003 the increase was 14.6% for stores in Sweden owned by the Group, of which same stores increased by 3.7%. Consolidated net sales totalled SEK 16,500 m (16,197), an increase of 1.9%. Of total sales, the Swedish operations accounted for SEK 13,955 m (13,449) and Spar Finland for SEK 2,545 m (2,748).

Hemkop's sales decreased by 2.2% during the month, of which same-stores increased by 3.0%. Accumulated sales decreased by 4.0%, of which same stores increased by 1.2% Willys grew its sales by 30.5% during the month, of which same stores increased by 8.1%. Accumulated sales increased by 27.6%, of which same stores increased by 4.1%. Willys hemma grew its sales by 26.7% during the month, of which same stores increased by 4.8%. Accumulated sales increased by 27.3%, of which same stores decreased by 1.2% Spar Finland's sales decreased by 9.2% and in local currency a decrease by 9.1%. Accumulated sales fell by 7.4%, and in local currency a decrease by 7.4%. For stores owned by the Group the decrease (in local currency) was 15.4%, of which same stores decreased by 15.9%. For stores owned by the Group accumulated sales in local currency decreased by 9.1% of which same stores decreased by 9.1%.

Sales per business operation are broken down as follows: 


                   Jan-June Jan-June  Change
                       2003     2002
                     SEK m.   SEK m.       %
 Hemkop               3,007    3,132   -4.0%
 Willys               5,058    3,963   27.6%
 Willys hemma           652      512   27.3%
 Spar Finland         2,545    2,748   -7.4%
 Dagab 1)             9,026    8,598    5.0%
 Axfood Narlivs       2,334    2,301    1.4%
 Other 2)               983    1,009   -2.6%
 Internal sales 3)   -7,105   -6,066   17.1%
 Total               16,500   16,197    1.9%

 1) Of which direct distribution SEK 2,292 m (1,801).
 2) Includes Spar Sverige AB, Axfood Private Label, support companies
    and joint-Group functions.
 3) Of which Dagab SEK 6,326 m (5,362).
 *  The figures are preliminary, definite figures will currently be
    presented at www.axfood.se under Financial Information.

Preliminary sales figures will be presented on the following dates: July 5/8, August 3/9, Sept 22/10 (quarterly report), Oct 5/11, Nov 3/12

For further information, please contact:

Lars Nilsson, Executive Vice President and CFO, tel. +46-8-553 998 11, +46-70-569 66 33

Bodil Eriksson, Executive Vice President, Corp Comms, tel. +46-8-553 998 17, +46-70-629 66 34

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http://www.waymaker.net/bitonline/2003/07/23/20030723BIT00320/wkr0001.doc

http://www.waymaker.net/bitonline/2003/07/23/20030723BIT00320/wkr0002.pdf

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