Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
Specialist Retailers
Food, Drinks & Grocery Retailers
Return to: RBR Home | Specialist Retailers | Food, Drinks & Grocery Retailers

Delhaize Group revenues down by 0.5% in Q3

RBR Staff Writer Published 08 November 2013

Belgian food retailer Delhaize Group has reported 0.5% drop in revenues for the third quarter (Q3) to €5.339bn, as against €5.369bn in the corresponding period a year ago.

At identical exchange rates, Delhaize Group's revenue increased 2.9% for third quarter while organic revenue growth was 3.1%.

The group's comparable store sales growth totaled 2.2% in the US and 1.5% in Belgium.

Geographically, group's underlying operating margin amounted 3.3%, including 3.9% in the US, 2.6% in Belgium, and 3.2% in Southeastern Europe.

Delhaize Group president and chief executive officer Pierre-Olivier Beckers said the company delivered solid results in the US during the third quarter.

"Food Lion continued to show good momentum as reflected in the fourth consecutive quarter of positive volume and comparable store sales growth. At Hannaford, we experienced similar positive trends supported by further price investments since the second quarter."

"In Belgium, we have maintained market share, helped by network expansion and higher comparable store sales growth. As a result of our decision to increase price investments and promotions, profitability has declined. In Southeastern Europe, we continue to maintain or even improve our market share in the largest three markets. This has resulted in further improved profitability for the region as a whole," Beckers added.

For 2013, the group expects to generate an underlying operating profit of at least €755m at identical exchange rates and a free cash flow of approximately €500m.