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Belgo-Dutch retail group Ahold Delhaize is raising its online ambitions: the goal is now a turnover of seven billion euros by 2021, rather than the current target of five billion. The retailer will be heavily investing in stores and technology, while cutting costs at the same time.
New strategy
Ahold Delhaize presented its new strategy under the baseline ‘Leading Together’, including some strong ambitions: the fusion group will be shifting its focus over the coming three years to comparable turnover growth and market share gain. Its aim is to have online turnover doubled by 2021, reaching seven billion euros: significantly more than the five billion target the company had before.
Over the next three years, the retailer will be investing 3 % of its turnover in stores, omnichannel and technology. In the United States, the group’s largest chain, Stop & Shop, will get a repositioning. Simultaneously, the retailer intends to keep cutting costs: the ‘Save for Our Customers’ programme is expected to bring in an additional 1.8 billion euros by 2021.
“In an industry that is changing quickly, we will be aiming for growth by making daily grocery shopping simpler, fresher and healthier for our customers,” said CEO Frans Muller. Ahold Delhaize is expecting a stable margin and high single-digit profit growth per share in 2019. Meanwhile the group will be purchasing a billion euros worth of its own shares – 50 % less than in 2018.
