Dutch grocery retailer Ahold has revealed its results for the opening quarter of fiscal 2014, with group sales 'broadly flat' at €9.8bn.
According to the company, the results were impacted by low inflation and volumes under pressure.
The group's online sales enjoyed year-on-year growth of 20 per cent to €362m, while underlying operating margin stood at 4 per cent.
'First quarter sales trends were similar to the previous quarter with a flat year-on-year performance, impacted by low inflation and volumes that remained under pressure in all our markets,' said CEO Dick Boer.
'In the United States, we decided to roll out a programme to improve our customer proposition by investing in the quality and merchandising of our fresh assortment, associate training and targeted price reductions in all our divisions. In the Netherlands, our market share performance stabilised versus the previous quarter and we continue to focus on improvements and additions to our assortment to further strengthen our commercial position.
'We are expanding our online position in the United States and the Netherlands, and we are pleased with the overall sales growth of over 20 per cent on an identical basis.
'Our outlook for the next quarter reflects similar trading conditions to the first quarter as well as investments in our customer proposition and future growth.'
