Ahold posted a 3.9% increase in third-quarter net sales today (24 October) as the Dutch retail group successfully wooed customers with discounting and value initiatives.
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Sales rose to EUR5.8bn (US$7.45bn), up from EUR5.59bn a year ago.
“In reply to the turbulent economic environment, our continued focus on bringing value to our customers led to a solid performance. We remain vigilant and will respond to any changes in consumer and competitor behaviour,” Ahold said.
In the US, where the company derives about half of its revenue, Ahold has undertaken an overhaul of its operations focusing on price cuts and the introduction of more own-brand products.
Ahold’s biggest US chain, Stop & Shop, booked same-store sales growth, excluding fuel, of 3.8%. Giant-Landover and Giant-Carlisle reported comparable sales growth, excluding fuel, of 0.6% and 5.4% respectively.
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By GlobalDataAlbert Heijn, the biggest supermarket chain in the Netherlands, also benefited from the company’s attempts to reposition it in the market by emphasising value with an 8.3% increase in same-store sales growth.
