Newly Merged Royal Ahold Delhaize Sales Helped by Netherlands
January 19 2017 - 2:15AM
Dow Jones News
By Maarten van Tartwijk
AMSTERDAM--Newly merged supermarket operator Royal Ahold
Delhaize NV (AD.AE) reported sales growth in the fourth quarter as
a strong performance in the Netherlands helped to offset mixed
results in the U.S.
The company said Thursday that pro forma sales rose 2.8% to 15.5
billion euros ($16.5 billion) in the last three months of 2016
after adjusting for currency swings and an extra selling week in
the same period a year earlier.
Comparable sales grew by 6.6% in the Netherlands, which Ahold
Delhaize attributed to an improved performance of its Albert Heijn
supermarket chain and strong online sales.
In the U.S., where the retailer generates most of its revenue,
growth was subdued partly as a result of falling food prices.
Comparable sales at Delhaize America rose 2.2%, while Ahold USA
reported a 0.2% decline.
Ahold Delhaize reiterated its full-year expectation of an
underlying profit margin to be "slightly ahead" of last year, while
its free cash flow will reach around EUR1.3 billion. The company
will publish its earnings report for the full year on March 1.
-Write to Maarten van Tartwijk at
maarten.vantartwijk@wsj.com
(END) Dow Jones Newswires
January 19, 2017 02:00 ET (07:00 GMT)
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