Ahold Delhaize: ends 2019 'on a high note'

(CercleFinance.com) - Dutch-based retail group Ahold Delhaize on Wednesday reported higher-than-expected fourth-quarter profit, in particular helped by an acceleration in its online and US sales.


The company - which was formed after the Dutch Ahold merged with Belgium's Delhaize in 2016 - reported fourth-quarter net profit of 544 million euros, up 7% year-on-year.

Net sales were 17.4 billion euros, up 5% over the period, and up 3.1% at constant exchange rates, with net consumer online sales up 30.1%.

US comparable sales growth excluding gas accelerated to 2.3% in the past quarter, the group said, with online sales also rising significantly.

"We ended the year on a high note, with strong group performance in the fourth quarter," said Frans Muller, the company's CEO.

While the retailer plans to make "significant investments" in 2020, it expects its underlying operating margin to be broadly in line with 2019, anticipating mid-single-digit growth in underlying EPS in 2020.

Its shares were little changed (+0.4%) on Euronext Amsterdam following this report.

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