Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
NEWS

Grocery retailer Ahold Delhaize sees Europe’s food inflation slowing

Published On :

Grocery retailer Ahold Delhaize sees Europe’s food inflation slowing

(Reuters) -Supermarket group Ahold Delhaize expects food inflation in Europe to slow in the second half of this year, CEO Frans Muller said on Wednesday after the retailer beat expectations for its first quarter thanks to strong U.S. sales.

Muller said he saw food inflation slowing in the second half, with prices for sunflower oil and eggs likely to fall back slightly.

Ahold, which operates Stop & Shop, Giant, Food Lion and Hannaford in the U.S. and Albert Heijn in the Netherlands, posted quarterly sales of 21.62 billion euros ($23.80 billion) to beat a 21.5 billion euro consensus from analyst forecasts compiled by the company.

The retailer, which makes more than half its revenues in the U.S., saw its underlying operating margin rise to 4.8% in the U.S. while in Europe it fell to 2.8%, hit by higher energy costs and a strike at Delhaize Belgium. Ahold also has supermarkets in Czech Republic, Greece, Portugal, Romania, and Serbia, as well as Indonesia.

Online sales in the U.S. jumped by 11.9% compared to a year ago, helping overall online sales grow by 5.9%. Ahold said its loyalty programs were helping to draw shoppers with personalised discounts.

Quarterly operating income was 822 million euros, in line with expectations of 823 million euros.

($1 = 0.9084 euros)

(Reporting by Helen ReidEditing by David Goodman, Elaine Hardcastle)

 

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts