Dutch retail giant Ahold today (21 January) reported slowing sales growth in the fourth quarter of 2009, although its shares rose in early trading as the figures beat analyst forecasts.
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Ahold, which runs the Albert Heijn chain in the Netherlands and Stop & Shop in the US, booked a 3.4% increase in fourth-quarter net sales to EUR6.8bn (US$9.56bn) – compared to growth of 4.3% in the third quarter of the year.
Even allowing for the fact that Ahold’s fourth quarter in 2008 had an extra trading week, net sales rose 2.1% on an adjusted basis.
Nevertheless, Ahold’s shares were up 0.4% in early trading on the Euronext exchange this morning as the company’s fourth-quarter sales beat a forecast of analysts polled by Reuters.
The company said “strong volume growth” in the fourth quarter had offset falling food prices and consumers continuing to trade down.
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By GlobalDataAcross 2009, Ahold’s net sales were up 8.9% at EUR27.9bn.
The retailer issues its full 2009 financial numbers on 4 March.
