ICA's Hypermarket Selloff Highlights Woes For Format In Europe

Scandinavian retailer ICA, which is 60%-owned by Netherlands-based Ahold, plans to sell its Norwegian hypermarket business in an effort to stem falling profits in the market. The firm will sell its 25 ICA Maxi stores, which in 2010 generated revenue of NOK3041mn, to focus on its Rimi discount format and ICA Supermarket format. The decision can be seen as part of a wider European trend away from hypermarkets and towards smaller formats, which has had a damaging impact on many of the region's

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