Belgium-based retailer Delhaize has booked an increase in full-year sales and reconfirmed its guidance for its annual profits in 2010.
In 2010, Delhaize achieved revenues of EUR20.8bn (US$28.2bn), up 1% on a constant-currency basis.
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At actual exchange rates, sales climbed 4.6%, driven by the strengthening of the US dollar against the euro. On an organic basis, revenue was up 0.9%.
In the fourth quarter, revenues increased by 1.5% at identical exchange rates and by 7.6% at actual exchange rates. Organic revenue growth was 1.4% supported by “solid” comparable-store sales in Belgium – which rose 3.8% – an “excellent quarter” at US banner Hannaford and “sustained revenue growth” in Greece of 5.5%.
Delhaize president and CEO Pierre-Olivier Beckers said: “During the fourth quarter of 2010, our revenue growth improved as a result of the continued implementation of our ‘New Game Plan’. As a result of our solid fourth-quarter revenues and continued cost management, we confirm our 2010 earnings guidance.”
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Delhaize has stuck by its forecast that full-year operating profit could fall 2% – but could rise 2%.
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By GlobalDataThe retailer added that it plans to open 120 to 130 new stores in 2011, remodel around 120 stores and close 20 stores.
Delhaize’s full-year results are expected to be released on 10 March.
Shares rose 1.9% to EUR57.11 at 10:10am BST this morning.
Click here to view the trading update.
