61 million euro profit for Delhaize in first quarter | RetailDetail

61 million euro profit for Delhaize in first quarter

61 million euro profit for Delhaize in first quarter

Belgian distribution group Delhaize has closed the first quarter with a profit of 61 million euro, much better than the loss of 3 million euro in the same quarter in the previous year.

No surprises

A few weeks ago Delhaize published preliminary quarterly results, which were all confirmed: 214 million euro company profit, comparable sales growth of +1.9% in the United States and +2.4% in Belgium and strong profit margins in the US (4.2%) and Belgium (5.1%). One number, that of sales, was upped a little bit: company sales were 5.52 billion euro; a few weeks ago the number was 5.5 billion euro.

 

We had a strong first quarter, supported by higher sales and profitability at Delhaize America and Delhaize Belgium, partly due to the favourable weather conditions. The repositioned shops of Food Lion continue to perform well and in Belgium consumer behaviour was stronger than expected. The activities in South-Eastern Europe were influenced by price investments in Greece and the high inflation in other countries”, said Pierre-Olivier Beckers, who recently announced his resignation, which was quite the surprise.

 

In Belgium Delhaize had sales of 1.2 billion euro in the past quarter. “The market inflation of 2.2% and the expansion were the most important aspects for this growth. The underlying company profit rose by 13.4% to 63 million euro.” The Belgian distribution group confirms its year goal for an underlying company profit of 775 million euro, 3.6% lower than the previous year.

Questions or comments? Please feel free to contact the editors


WE keeps net profit stable despite lower turnover

10/08/2018

Dutch fashion group WE International saw its turnover drop 2.8 % to 275.8 million euro, but its net profit remained stable because of the selling of real estate.

Sports Direct buys bankrupt chain House of Fraser

10/08/2018

Sports Direct owner Mike Ashley has bought British department store chain House of Fraser, just hours after the 169 year old chain filed for bankruptcy.

Adidas wins in World Cup football

09/08/2018

German sports brand Adidas has had a victorious quarter because of the World Cup football. Total turnover rose 4 % to 5.26 billion euro, a hefty 3.2 billion coming from shoe sales. Operational profit climbed 17 % to 592 million euro.

Record turnover for Schoenen Torfs

07/08/2018

Belgian shoe store chain Schoenen Torfs has seen its turnover grow 7.6 % in 2017, but the company had to admit to a 9 % decrease in net profit. CEO Wouter Torfs aims for further growth online, in Wallonia and through cooperation with sneaker chain The Athlete’s Foot.

McGregor starts lawsuit against Reebok

01/08/2018

Reebok, sponsor of the Ultimate Fighting Championship, has released a clothing line with the name of the popular Irish fighter Conor McGregor. That is confusing, Dutch fashion chain McGregor complains.

New owner, new future for Men At Work

01/08/2018

Dutch fashion chain Men At Work has found a new owner for its home market stores, as did the Belgian branch before. Victory & Dreams holding, which also owns Miller & Monroe and Witteveen Mode, acquires the bankrupt chain and promises the survival of at least ten stores.