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Retailer Ahold posts increase of sales, profit in Q2

Xinhua, August 21, 2015 Adjust font size:

Ahold had an increase of sales and profit in the second quarter of 2015, the Dutch international retailer announced on Thursday.

The net sales in Q2 2015 went up by 17.1 percent to 8.688 billion euros (9.7 billion U.S. dollars), up 3.1 percent at constant exchange rates, compared to the same period last year. The net income in the second quarter was 195 million euros, up 32.7 percent compared to the 147 million euros of Q2 last year.

Ahold emphasized that the results in the first half of last year were influenced by a charge of 192 million recorded in discontinued operations representing the net of a tax settlement amount and associated legal fees for the Waterbury litigation, related to pricing practices of Ahold's former subsidiary U.S. Foodservice in the period 1998-2005.

Net sales in the Netherlands went up by 6.8 percent in the second quarter of 2015, compared to the same period last year, in the United States by 22.5 percent and in the Czech Republic by 30.7 percent.

"We had a strong quarter and are pleased with the financial performance across our business," CEO Dick Boer said in a press release.

"In the Netherlands, Albert Heijn (supermarkets) continued its strong sales momentum with more transactions and higher volumes, increasing its market share this quarter versus one year ago," Boer added.

"In the United States, we continue to focus on improving our customer proposition and remain on track with the implementation of our program to provide better quality and value to our customers," the CEO continued. "In the Czech Republic, we saw improved sales, primarily driven by our Albert supermarkets."

In June this year Ahold and Belgian counterpart Delhaize announced they have an agreement to combine their businesses through a merger. The transaction is expected to be completed mid-2016. Endit