It is an off shoot that has developed into believing in a mixed economy. The nordic model. They don't describe themselves as socialists.
https://www.vox.com/2015/10/31/9650030/denmark-prime-minister-bernie-sanders
"I know that some people in the US associate the Nordic model with some sort of socialism," he said. "Therefore, I would like to make one thing clear. Denmark is far from a socialist planned economy. Denmark is a market economy."
In Rasmussen's view, "The Nordic model is an expanded welfare state which provides a high level of security to its citizens, but it is also a successful market economy with much freedom to pursue your dreams and live your life as you wish."
dennark is a mixed economy. Social democracies are mixed economies, which was born out of socialism as a concept as was (at the other end of the scale) communism.