Strong sales at Ahold’s Stop & Stop and Giant-Landover operations have contributed to a 15 per cent growth in the Dutch retail group’s overall sales to €8.7bn (US$12.3bn) during the first quarter of 2009.
“In our first quarter we continued to make good progress with our strategy for profitable growth. We had strong sales and solid margins in the Netherlands and the United States, despite the challenging economic environment,” said CEO John Rishton in a press release.
“Identical sales growth at Stop & Shop and Giant-Landover were the strongest in many years, helping us grow market share and margin. Giant-Carlisle gained significant market share in a highly competitive and promotional
market.”
Stop & Shop/Giant-Landover operating income rose by 20 per cent to US$242m in the first quarter, with net sales up by 3.6 per cent at US$5.3bn. Identical sales were up 3.1 per cent at Stop & Shop (4.8 per cent excluding gasoline) and up 3.6 per cent at Giant-Landover (3.6 per cent excluding gasoline), despite lower pharmacy sales.
Giant-Carlisle net sales increased by 3.4 per cent to US$1.5bn during the first quarter. Identical sales grew by 1.1 per cent (4.3 per cent excluding gasoline). Operating income was US$71m (or 4.9 per cent of net sales), down US$1m compared with the same period last year, primarily due to increased promotional activity.
No comments yet