In the Netherlands, Ahold has released its financial figures for the third quarter (Q3) of the year, with an overall fall in income despite higher sales.
Operating income dropped 3.7 per cent year-on-year to €289m, while net income was hit by a €90m ICA tax charge, falling 45.9 per cent to €139m.
Sales came in at €7.6bn, up 3.7 per cent at constant exchange rates, with operating margin standing at 4.1 per cent.
'We continued to invest in competitiveness and gained market share in our major markets,' explained CEO Dick Boer. 'Market conditions remained challenging, with consumers cautious in their spending and with ongoing high levels of promotional activity in both the United States and Europe.
'Sales growth in the United States was modest, reflecting declining retail price inflation and a strong sales quarter last year,' he continued. 'Through stringent cost control we were able to deliver a solid margin performance. In the Netherlands we were pleased with a strong sales performance, as our value investments gained traction. Margins in the Netherlands were impacted by these investments, which were not fully offset by cost savings and by the inclusion of bol.com for the full quarter.
'We remain cautious in our outlook and expect market conditions to continue to be difficult,' Boer noted. 'We will closely monitor the potential impact of rising food commodity costs, particularly in the United States. We are confident that we are well on track to execute our strategy and we will continue to invest in growth.'
Meanwhile, Ahold has also announced the appointment of James McCann as the chief operating officer of Ahold USA, a move that will come into effect on 1 February 2013.
McCann will be taking over the role from Carl Schlicker, who has announced his retirement, the group reported.
''I am very pleased that we have a strong leader for Ahold USA from within our own organisation,'' added Boer. ''Since his start with Ahold, James has focused on strengthening our e-commerce proposition and customer loyalty programmes as part of the company's robust growth strategy that was launched last year and is now being implemented.'
