Login
|
Ahold USA Q2 Sales Gain As It Converts Genuardi's To Giant Tuesday August 28th, 2012 - 11:09AM
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
In the second quarter, Ahold USA achieved 3.4% sales growth versus the year-earlier period, Royal Ahold, the parent company reported. Overall in the quarter, Royal Ahold net sales increased by 11.9% to €7.7 billion, or $9.68 billion, and net income increased to €248 million, or $311.7 million, a gain of €49 million, or $61.6 million, year over year. “We saw ongoing high levels of promotional activity in both the United States and the Netherlands with retail price inflation coming down, particularly in the United States,” said CEO Dick Boer in commenting on results. “Our businesses in the United States achieved strong margins through stringent cost control.” In reference to the market conditions in the U.S. and the company’s store purchase from Safeway, Boer added, “We expect market conditions to remain difficult and are cautious about the potential impact of rising food commodity costs, particularly in the United States for the balance of the year. We are confident that we are well on track to deliver on our strategy, and we will continue to invest in growth. We are pleased with the conversion of 15 Genuardi’s stores to Giant Food Stores in the United States.” Tags: Housewares Cookware & Bakeware Vacuum Cleaners/Electric Cleaning Health & Personal Care Home Décor Home Environment Small Electrics Organization & Cleaning Tabletop Gadgets & Kitchen Tools Retail Financials |
Target Q1 Earnings Surprise Despite Soft Sales »
Best Buy Posts Q1 Loss But Results Aren't As Bad As Expected
Home Depot Q1 Beats Weather, Wall Street
Nordstom Racks Up Sales But Still Comes Up Short In Q1
Kohl's Roughed Up In Q1 But Earnings Beat Street
Lifetime Brands, Bombay Co. Ink Licensing Deal
Dissecting what Ron Johnson got wrong during his brief, calamitous term at the helm of J.C. Penney is sure to be the focal point of retail strategy and tactics lessons for years to come. But Penney’s future could still hinge to some extent on what he got right.
