Ahold Delhaize remains on track: sales and profit margin grow slightly above expectations. In the Benelux, Albert Heijn and Delhaize are gaining market share, while online sales are growing at double-digit rates.
Growth in Europe
With sales of 22 billion euros and an underlying operating profit margin of 3.9% (although excluding restructuring costs at Stop & Shop and Delhaize), Ahold Delhaize performed slightly better than expected in the third quarter.
Especially in Europe, the retailer managed to improve profitability, thanks to strong performances in the Netherlands and Belgium, where the retailer continued to gain market share. Comparable sales went up 1.6% in Europe despite a 3.3% negative impact from the cessation of tobacco sales at Albert Heijn.
In Belgium, the last of 128 integrated stores will be transferred to an independent operator this week. This completes that part of the future plan. At Albert Heijn, online sales grew by double digits.