ZAANDAM, NETHERLANDS - Ahold has released its Q1 2015 financial report, highlighting an increased market share in the U.S. for the third consecutive quarter.
Just in Q1, Ahold USA added 183 stores, bringing the total of U.S. locations to 704. The company says the next steps in growth for the U.S. is the rollout of Super KVI (Know-Value-Item) price drops and the continued launch of 75 new produce departments. As we’ve previously reported, Ahold and Delhaize have confirmed that they are currently in merger talks. Ahold shares jumped nearly 18 percent and Delhaize shares rose 15 percent following reports of a potential merger.
Discussing Ahold’s financial results, CEO Dick Boer commented, “We are encouraged by the positive momentum in our sales trend, with sales growth of 3.1% excluding gas and at constant exchange rates, despite the adverse timing of Easter. We have continued to respond to the changing needs of our customers, by making further price investments, increasing and improving our assortments, expanding our store network, introducing new formats and continuing to strengthen our leading online proposition.”
Total net sales for Ahold USA during the first quarter were over €7 billion ($7.6 billion), up 19.9 percent over last year. First quarter sales for all sectors of Ahold were €11.3 billion ($12.3 billion), up 14.9 percent.
Other highlights from the report include:
- Net income was €213 million, up €163 million compared with last year
- Underlying operating income was €390 million; €2 million lower than last year.
- Sales excluding gas up 3.1% at constant exchange rates.
- Sales in the Netherlands up 5.7 percent.
- Underlying operating margin of 3.5 percent.
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