AD Koninklijke Ahold Delhaize NV

   By Oliver Griffin 
 

Koninklijke Ahold Delhaize NV (AD.AE) said Tuesday that it plans to double online sales by 2021, during which time capital expenditure will account for around 3% of annual sales.

The Dutch retailer said it plans to double online sales to around 7 billion euro ($7.89 billion) in the next three years and that it is also targeting annual free cash flow of EUR2 billion from 2019 through to 2021.

Announcing the plan at its capital markets day in New York City, Ahold Delhaize said it would roll out a cost-cutting plan to save EUR1.8 billion in the same three-year period.

Ahold Delhaize said it expects a stable group margin and high single-digit growth in earnings per share for 2019 while also buying back EUR1 billion of its own shares.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

(END) Dow Jones Newswires

November 13, 2018 06:36 ET (11:36 GMT)

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