Dutch retailer Ahold has published its first quarter results, with first quarter sales (excluding gas) increasing 3.1 per cent at constant exchange rates.
Total quarterly sales came in at €11.3bn, up 14.9 per cent and driven by currency, or up 1.4 per cent at constant exchange rates.
Sales in the Netherlands grew 5.7 per cent, driven by successful promotions and improved product offering, the group said.
'We are encouraged by the positive momentum in our sales trend, with sales growth of 3.1 per cent excluding gas and at constant exchange rates, despite the adverse timing of Easter,' said CEO Dick Boer. 'We have continued to respond to the changing needs of our customers, by making further price investments, increasing and improving our assortments, expanding our store network, introducing new formats and continuing to strengthen our leading online proposition.
'In the Netherlands, Albert Heijn delivered strong sales growth, supported by successful promotions, and continued to improve its product assortment to further differentiate its offering,' he continued. 'Albert Heijn grew market share in the Netherlands and we made further progress expanding our network in Belgium with new store openings bringing the total to 30 stores. In the US, we saw further benefits from our improved customer proposition, which we have continued to roll out to more stores during the quarter, resulting in an increased volume market share. In the Czech Republic, we completed the process of rebranding the 49 Spar stores.
'Our business performance remains on track to deliver in line with full year expectations. We continue to execute our Reshaping Retail strategy, offering quality and value to our customers,' Boer added.
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