During the corresponding quarter last year, Axfood's profit was SEK 934 million.
Sales increased marginally to SEK 23.2 billion, which was slightly worse than analysts had expected on average and also worse than management had hoped.
“Despite our very strong sales growth last year, a negative calendar effect and deflation in food prices, growth did not reflect our ambitions,” CEO Simone Margulies said in a written comment.
The sales increase was 2.1 percent, compared with the market's total increase of 3.7 percent, according to Axfood.
The Hemköp chain performed best, while Willys grew more slowly.
