Recently merged retailer Ahold-Delhaize has published third quarter results, marking its first full set of quarterly results.
The retailer has enjoyed a strong month, with growth in net sales of 64.2 per cent to €13.9bn at current exchange rates, while net income increased by 24.9 per cent to €236m.
"We are pleased to announce a solid performance in our first full set of quarterly results since completing our landmark merger in July," said Dick Boer, group CEO. "Despite challenging conditions in certain markets, Ahold Delhaize has delivered growth in sales and in underlying operating income on a pro forma basis which reflects the strength and resilience of our great local brands, as well as our continued focus on delivering cost efficiencies across our businesses while driving top-line growth.
"Customers again responded positively to our brands' continued commitment to quality, innovation and service across our markets," he continued. "In the Netherlands, we achieved a seventh consecutive quarter of volume growth driven by the continued strong momentum at Albert Heijn. Customers valued its innovative proposition and promotional campaigns. Our online businesses bol.com and ah.nl also delivered another quarter of very strong sales growth. In Belgium, we generated savings from the Transformation Plan, with an almost doubling of our pro forma underlying operating income. In Central and Southeastern Europe, Ahold Delhaize grew comparable store sales in Greece and Romania and improved margins."
Boer called the trading conditions in the US "challenging" and noted that third quarter sales growth was impacted by increased retail price deflation, mainly at Food Lion as a result of a more intense competitive environment.
"Ahold Delhaize made significant progress in our first quarter together and we are continuing to carry out our post-merger integration plans," he added.