Belgian retail group Delhaize has reported 2003 sales of €18.8bn (US$23.7bn), down 9.1% compared to 2002 due to the lower exchange rate of the US dollar against the euro.
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The company, which does most of its business in the US, said sales trends improved throughout 2003, culminating in 2.9% comparable store sales growth in the US and 3.7% in Belgium in the fourth quarter. For the full year, comparable sales growth was 0.6% in the US and 5.6% in Belgium.
Delhaize also announced a new strategic plan for Kash n’ Karry, its Florida-based business, that will focus resources on its core markets on the West Coast of Florida, where it plans to open or remodel 20 stores in 2004. As part of the plan, 34 underperforming Kash n’ Karry stores will be closed or sold in the first quarter of 2004.
“In 2003, all banners of Delhaize Group focused on sustainable sales growth initiatives, resulting in an improving sales trend throughout the year,” said Pierre-Olivier Beckers, president and CEO.
“We are particularly pleased with the marked sales improvement at Food Lion and the stronger sales momentum at Kash n’ Karry in the second half of 2003, while Hannaford, Delhaize Belgium and Alfa-Beta continued their strong performance. In 2004, Delhaize Group remains dedicated to reinforcing the differentiation of its store concepts and to focusing on operational execution. Building on our sales momentum of 2003 is our number one priority,” Beckers added.
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By GlobalDataDelhaize said it plans to increase its sales network in 2004 by 61 stores net to a total of 2,620 (including the 34 Kash n’ Karry store divestitures).
