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Delhaize Group revenue increases in Q1 2013

RBR Staff Writer Published 23 April 2013

Belgium-based food retailer Delhaize Group has reported 2.1% increase in revenues to €5.5bn for the first quarter (Q1) of 2013.

The company's underlying operating profit was €214m, a 13.7% increase, compared to the first quarter of 2012.

In the US, underlying operating margin grew by 4.2% against the prior year's 3.7%, due to positive sales leverage supported by the favorable calendar impact, non-performing store closures, cost reductions and Bottom Dollar Food's significantly improved results.

In Belgium, underlying operating margin was 5.1%, higher than 4.6% a year ago, mostly driven by cost control and positive sales leverage.

In contrast, operating margin in Southeastern Europe decreased to 1.4%, mostly driven by price investments.

Comparable store sales growth was 1.9% in the US, while in Belgium, comparable store sales growth was 2.4% as a result of inflation and improved volume trends.

In Southeastern Europe, revenues grew 6.8% at identical exchange rates due to store openings, while consumer spending is under pressure in the region.

The chain currently operates in 11 countries and three continents.