Ahold, the Dutch retail giant, has seen full-year sales inch up slightly – despite tough economic conditions in the US.
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The company, which runs Stop & Shop and Giant-Landover stores in the US, today (25 January) posted a 1.2% rise in sales to EUR28.2bn (US$41.5bn) for 2007.
Excluding the impact of the weak dollar on sales, revenue rose 6.1%, Ahold said.
“In Europe, market conditions were favorable,” Ahold said. “In the United States, the turbulent economic environment did not have a significant impact on local market conditions.”
Sales from Ahold’s Stop & Shop and Giant-Landover business in the US rose 1.5% to $16.7bn. Identical sales – which strip out the impact of new outlets – at Stop & Shop increased 2.7% but dipped 0.5% at Giant-Landover stores.
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By GlobalDataSales at Ahold’s Giant-Carlisle stores jumped 13%, a rise partly boosted by its acquisition of the Clemens Market stores in late 2006. Nevertheless, identical sales rose 3.7%
In Ahold’s domestic market, sales climbed 12.3% to EUR7.3bn, figures buoyed by the acquisition of the Konmar stores in late 2006. Identical sales were healthy, rising 7.9%.
Ahold said identical sales from its Schuitema business inched up 1.3%. Ahold said this week it is in talks to sell its 73% stake in Schuitema to private equity firm CVC.
Net sales from Ahold’s ICA venture in Scandinavia rose 22.2% to EUR8.9bn, thanks in part to the business taking full control of Rimi Baltic in December 2006.
