Ahold Delhaize: 'solid' Q3 results
(CercleFinance.com) - On Wednesday Ahold Delhaize published "solid" Q3 results, while unveiling a new 1 billion euro share buyback program for 2021.
The Belgo-Dutch retailer, which operates supermarkets in Europe and the United States, generated Q3 sales that are up 10.1% at constant exchange rates at 17.8 billion euros.
Like-for-like sales in the US jumped 12.4% over the quarter, while organic growth in Europe reached 7.5%, the group said.
Online sales, expressed at constant exchange rates, leapt 62.6% over the quarter, in particular driven by an explosion (+114.7%) in Internet orders in the US.
Despite what may seems to be reassuring on the surface, Ahold Delhaize's share price fell by nearly 3% on Wednesday morning on the Amsterdam Stock Exchange, largely due to major uncertainties still surrounding the outcome of the US presidential elections, Invest Securities said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The Belgo-Dutch retailer, which operates supermarkets in Europe and the United States, generated Q3 sales that are up 10.1% at constant exchange rates at 17.8 billion euros.
Like-for-like sales in the US jumped 12.4% over the quarter, while organic growth in Europe reached 7.5%, the group said.
Online sales, expressed at constant exchange rates, leapt 62.6% over the quarter, in particular driven by an explosion (+114.7%) in Internet orders in the US.
Despite what may seems to be reassuring on the surface, Ahold Delhaize's share price fell by nearly 3% on Wednesday morning on the Amsterdam Stock Exchange, largely due to major uncertainties still surrounding the outcome of the US presidential elections, Invest Securities said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.