Belgian supermarket group Delhaize is seeing a stabilisation of its trading environment after a tough first quarter, according to chief executive Pierre-Olivier Beckersits.
'The trading environment is not getting worse, we're seeing more of a stable situation from a competitive or economic point of view,' he told Reuters.
'I can't say that we see a recovery,' he added, 'but we don't see a worsening of the situation.'
Delhaize revealed earlier in the month that its operating profit would fall by 15-20 per cent this year, as the retailer increased investments in its stores and on discounts in tough markets.
