Delhaize Group Third Quarter 2014 Results
(Thomson Reuters ONE) -
-------------------------------------------------------------------------------
Financial Summary Third Quarter 2014
-------------------------------------------------------------------------------
» Revenue growth of 3.3% at identical exchange rates (3.3% organic growth)
-------------------------------------------------------------------------------
» Comparable store sales growth of 5.3% in the U.S. and -5.0% in Belgium
-------------------------------------------------------------------------------
» Group underlying operating profit of ?192 million, underlying operating
margin of 3.5% (4.2% in the U.S., 1.4% in Belgium)
» Free cash flow generation of ?118 million (?426 million for the first nine
months of 2014)
-------------------------------------------------------------------------------
Highlights
-------------------------------------------------------------------------------
» Agreement to sell Bottom Dollar Food store locations
-------------------------------------------------------------------------------
» 31 Food Lion stores relaunched under the "Easy, Fresh & Affordable" strategy
in August, 45 additional stores will be relaunched next week
» CEO Comments
Frans Muller, President and Chief Executive Officer of Delhaize Group,
commented: "While our overall performance in the third quarter met our
expectations, results were decidedly mixed among our key regions. In the U.S.,
comparable store sales growth was very strong at 5.3%, resulting from both
continued good momentum at Food Lion and favourable, albeit temporary,
competitive dynamics at Hannaford. These positive volume trends resulted in a
10% increase in our U.S. underlying operating profit. In August, we have
launched the first 31 Food Lion stores deploying our new "Easy, Fresh &
Affordable" strategy. Although it is too early to draw conclusions, they are
experiencing good initial customer response. We will roll out the next 45 stores
next week."
"In Belgium, results were impacted by both weak summer trading and uncertainty
caused by the June announcement of the Transformation Plan. While we believe
this impact is temporary in nature, disruptions have persisted and conditions
have deteriorated in the fourth quarter. We remain determined to make our
business more sustainable in the long term and continue to be in a dialogue with
our social partners to realize this. In Southeastern Europe, we faced weak
economic conditions in our markets and deflation in Serbia, both of which have
continued in the fourth quarter. We remain focused on our store expansion plans
to increase our strong and growing market positions."
Press release in pdf format:
http://hugin.info/133961/R/1869121/657111.pdf
Q3 14 presentation:
http://hugin.info/133961/R/1869121/657112.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Delhaize Group via GlobeNewswire
[HUG#1869121]
Unternehmensinformation / Kurzprofil:
Datum: 06.11.2014 - 07:01 Uhr
Sprache: Deutsch
News-ID 350169
Anzahl Zeichen: 3730
contact information:
Town:
Brussels
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 165 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Delhaize Group Third Quarter 2014 Results"
steht unter der journalistisch-redaktionellen Verantwortung von
Delhaize Group (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
