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October 20, 2009
Ahold Sales Rise 4.3% as Price Cuts Lure U.S., Dutch Shoppers
Bloomberg
By Jeroen Molenaar
Royal Ahold NV, the Dutch owner of the U.S. Stop & Shop grocery chain, said third-quarter sales rose 4.3 percent as price cuts lured shoppers in the U.S. and the Netherlands.
Sales increased to 6.04 billion ($9.05 billion) from 5.79 billion euros a year earlier, the Amsterdam-based company said today in a Hugin statement. Revenue was in line with the 6.04 billion-euro average estimate in a Bloomberg survey of nine analysts.
An increase in the quantity of goods sold in Ahold’s U.S. stores offset a decline in food prices in the region, where the Dutch retailer gets about half its sales. Sales at Stop & Shop rose 5.5 percent and advanced 5.4 percent at its Albert Heijn stores in the Netherlands.
U.S. rival Safeway Inc., the third-largest U.S. grocery chain, last week reported profit that topped analyst estimates as cost savings helped offset food deflation and lower volumes.
Ahold’s Albert Heijn, the largest supermarket chain in the Netherlands, posted a 0.4 percent decline in so-called identical sales for the quarter. Ahold is scheduled to release third- quarter earnings on Nov. 18.
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