NETEHRLANDS: Acquisitions boost Ahold Q2
Dutch retail group Ahold has reported rising underlying sales for the second quarter of the year, thanks in part to contributions from recent acquisitions.
Ahold said this morning (3 August) that second-quarter net sales rose 5.6% to EUR6.6bn (US$9bn). Sales rose 2% when currency fluctuations were taken into account.
Acquisitions made in the fourth quarter of last year weighed in with contributions to boost Ahold's group turnover.
Sales from Ahold's Giant-Carlisle operations in the US leapt by almost 14% to US$1bn thanks to the acquisition of the Clemens Markets stores late last year.
Revenue from Ahold's domestic Albert Heijn business rose by over 10% to EUR1.8bn due to the acquisition of Konmar stores from fellow Dutch retail group Laurus last year.
Ahold described market conditions in both the US and the Netherlands as "favourable" but warned that its plans to reduce prices and increase the number of products on sale at its Stop & Shop and Giant-Landover outlets would impact margins.
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