USA: Ahold CEO says Q2 net loss "hurts"
Ahold, the global food retailer and foodservice operator, has today [Thursday] reported a net loss of €197.5m (US$194.84m) for its Q2 2002 ended 14 July, compared to a net profit of €323.8m year on year. The company stressed that the results include exceptional charges of €490m, of which €410m relates to the default of Velox Retail Holdings (VRH), Ahold's former joint venture partner in Latin America, and €80m relates to goodwill impairment for Argentina.
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