NETHERLANDS: Ahold shares up despite sales slowdown
Dutch retail giant Ahold today (21 January) reported slowing sales growth in the fourth quarter of 2009, although its shares rose in early trading as the figures beat analyst forecasts.
Ahold, which runs the Albert Heijn chain in the Netherlands and Stop & Shop in the US, booked a 3.4% increase in fourth-quarter net sales to EUR6.8bn (US$9.56bn) - compared to growth of 4.3% in the third quarter of the year.
Even allowing for the fact that Ahold's fourth quarter in 2008 had an extra trading week, net sales rose 2.1% on an adjusted basis.
Nevertheless, Ahold's shares were up 0.4% in early trading on the Euronext exchange this morning as the company's fourth-quarter sales beat a forecast of analysts polled by Reuters.
The company said "strong volume growth" in the fourth quarter had offset falling food prices and consumers continuing to trade down.
Across 2009, Ahold's net sales were up 8.9% at EUR27.9bn.
The retailer issues its full 2009 financial numbers on 4 March.
Albert Heijn has launched an app for its customers to help them create shopping lists by scanning barcodes of products they are running out of using their mobile phone camera....
Ahold has insisted its business in the Czech Republic has not broken any laws after the country's antitrust body opened an investigation against the Dutch retailer over an alleged abuse of its market ...
US supermarkets Stop and Shop, King Kullen Markets and A&P are facing the prospect of strikes in New York state....
- 2017: three major drivers of M&A strategy
- just-food 2017 Survey - your thoughts on growth
- 2017 - what will shape the UK food sector?
- Could BRF's Turkey move pave way for OneFoods IPO?
- Food market in 2017: big foodservice trends
- Ferrero insists Nutella not pulled from shelves
- Premier Foods issues profit warning
- UK's Bakkavor plays down IPO "speculation"
- PepsiCo launches Walkers Mediterranean in UK
- Kellogg names Fareed Khan as incoming CFO