Leading Dutch supermarket operator Royal Ahold said it would increase spending by US$500m to US$3.5bn to upgrade older supermarkets and open new outlets.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Last year the group spent US$3bn on store refurbishment, although it had budgeted for US$3.8bn, commented group spokesman Hans Gobes.
The group plans to boost organic sales growth in 2002 from 6.4% in 2001 to between 7% and 8%. In 2001 sales rose 27%, largely on the strength of acquisitions, to €66.6bn (US$58.22bn).
Late last week Ahold repeated its forecast of 15% earnings per share growth in 2001 and 15% in 2002, excluding the impact of currency translation fluctuations and goodwill amortisation.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
