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For Ahold Delhaize, these are exciting times in the important US market: the presidential elections put pressure on the retail sector. CEO Frans Muller hopes to see a leader emerge as soon as possible.
Heavy crisis in the US
Ahold Delhaize enjoyed another strong quarter, driven by, among other things, online growth and growth in its home markets. For example, Delhaize gained 10 basic points in market share in Belgium, said top executive Frans Muller in an interview with Trends. Albert Heijn does not get in the way: both formulas appeal to a different audience and complement each other.
However, the Dutchman holds his heart about the future of the United States – accounting for 60% of all group turnover. The consequences of the corona crisis are being felt even harder there than in Europe. “The US is not doing so well because of corona and that can also have a negative impact on us. We benefit most from a healthy economy, where people feel good and healthy,” says Muller.
Uncertainty
The uncertainty surrounding the presidential elections adds to this. “The United States is in a serious economic and social crisis. We need clear leadership, whoever becomes president”, said the CEO, who had hoped for a “clear election result”. After all, it is not clear at the moment whether there will be any further government support to cushion the effects of the corona crisis.
Ahold Delhaize itself says it has already invested more than 600 million euros in additional corona measures. In total, the group will invest more than 2.5 billion euros this year. For example, the supermarket company already hired 30,000 additional employees in the course of this year. In addition, online capacity still needs to increase significantly: in the US by 100% over two years, at bol.com by 50%. This is possible because the group claims to have a “strong financial balance sheet”.
