Dutch retail giant Ahold has said its consolidated 2003 sales amounted to €56.1bn (US$71.5bn), a decline of 10.5% compared to the previous year.
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Ahold said sales were significantly impacted by lower currency exchange rates, in particular that of the US dollar. Sales excluding currency impact increased by 2.7% in 2003.
Consolidated fourth-quarter sales were €12.7bn, a decline of 10.8% compared to the same quarter in previous year, while sales excluding currency impact increased by 0.7%.
2003 sales at US Foodservice, which was at the centre of a financial scandal last year, rose 2.3% to US$17.8bn, while fourth-quarter sales rose 6% to $4.2bn, reported Reuters.
At Ahold’s US retail unit, which operates Stop & Shop, Bi-Lo, Giant, Tops and Bruno’s outlets, 2003 sales rose 2.7% to $27.0bn. Same-store sales edged up 0.1%.
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