Ahold Delhaize 1Q Net Sales up 65%; US Sales Impacted by Price Deflation, Late Easter
10 Mai 2017 - 7:47AM
Dow Jones News
By Ian Walker
Koninklijke Ahold Delhaize N.V. (AD.AE) Wednesday reported a 65%
rise in first quarter net sales, but said the performance in the
U.S., where it generates most revenue, was impacted by continuing
price deflation, adverse weather and the timing of Easter.
Still, the grocer expects sales performance to improve in the
second quarter, and to operate in a slightly inflationary
environment in the second half of the year.
Ahold Delhaize, which was formed last July through the tie-up of
Ahold and Delhaize Group, confirmed its target to realize 220
million euros ($239.6 million) in net synergies, including EUR56
million realized to date. It added that the board expects full year
underlying operating margin for the group to increase compared with
2016.
For the quarter ended March 31 Ahold Delhaize's revenue was
EUR15.87 billion, compared with EUR9.61 billion for the first
quarter of 2016, while net profit rose to EUR356 million, from
EUR206 million.
Ahold U.S. net sales rose to EUR6.05 billion, from EUR5.99
billion, while Delhaize Americas net sales were EUR3.94 billion in
the quarter. No comparable figures were disclosed for Delhaize
Americas as the merger was only completed last July.
-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
May 10, 2017 01:32 ET (05:32 GMT)
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