Lower turnover for Delhaize Group in Belgium | RetailDetail

Lower turnover for Delhaize Group in Belgium

Lower turnover for Delhaize Group in Belgium

Belgian Delhaize Group's turnover has grown 15 %, of which only 2.2 remained after exchange rates, to 5.82 billion euro in the first quarter of 2015. Its Belgian like-for-like turnover dropped however.

Belgium slowly climbs back up

Belgian turnover dropped 2.4 % to 1.18 billion euro, while its like-for-like turnover dropped 2.8 %. Strikes after the announcement that the chain would close several Belgian stores were mainly the cause of the weaker results.

 

"We are implementing huge changes in Belgium, to revitalize Delhaize. Our first quarter results were impacted by price investments, discounts and marketing, but we have seen a steady turnover and market share improvement", CEO Frans Muller said.

 

Huge blow to net profit

Delhaize's American like-for-like turnover grew 2.5 %, while its total turnover grew 3.2 % to 4.36 billion dollars (3.9 billion euro). Excluding exchange rate fluctuations, Delhaize even grew 25.5 % in the US, thanks to the weak euro compared to the dollar. Southeast Europe managed a 5 % turnover increase to 768 million euro, but its like-for-like turnover did drop 0.8 %. The abysmal Greece economy is a burden on local turnover.

 

The group's underlying operational profit dropped 11.2 % to 173 million euro (including exchange rates), while its net profit even dropped 75.8 % to 36 million euro.

Questions or comments? Please feel free to contact the editors


Walmart and Microsoft team up to beat Amazon

18/07/2018

Two major American companies join forces to try to beat the omnipresent threat of Amazon: Walmart (Amazon's biggest competitor in retail) and Microsoft (Amazon's main rival in cloud services) have signed a strategic partnership for the next five years.

Sales of PCs grows for the first time in six years

13/07/2018

For the first time in six years computer sales showed growth again: in the second quarter of 2018 they increased by 1.4%. According to research firms Gartner and IDC, the sales increase is mainly due to growth in business markets.

Retailhub Inspiration Tour: the customer journey becomes very different

09/07/2018

Thanks to Retailhub by RetailDetail, Antwerp has one more unique retail hot spot. Professionals can experience the future of retail in the Benelux' only retail inspiration platform, with 1250 sqm of innovative technology and huge trends.

Breakthrough in Karstadt-Kaufhof merger

05/07/2018

Canadian Hudson’s Bay and Austrian Sigma Holding have not reached a preliminary agreement about the merger of their respective department store chains Kaufhof and Karstadt: the Canadian company says it has only signed a letter of intent.

Alibaba CEO and Belgian PM discuss investment in Liège

04/07/2018

Alibaba founder Jack Ma has discussed a possible investment in Liège, Belgium with the country's prime minister Charles Michel. Afterwards no decisive statements were made by either party.

Toys "R" Us closes American stores amidst reboot hopes

02/07/2018

Final curtains for Toys "R" Us in the United States: all the stores have closed and 30,000 employees are laid off. Against all odds, some however still hope for a second life for the troubled chain.