Ahold Posts Q2 Net Sales Gain
Thanks in part to the solid performance of its Stop & Shop/Giant-Landover division, Ahold yesterday reported consolidated net sales of 6.4 billion euros for its second quarter ending July 12, 2009. Compared to the year-ago period, net sales grew 11.5 percent, or 3.9 percent at constant exchange rates.
“In the second quarter, inflation slowed considerably and we continued to see changing customer and competitor behavior, with an increased focus on price and promotions,” the Amsterdam-based retail conglomerate noted, adding that “in the United States, Stop & Shop and Giant-Landover continued to drive improved performance.” Although Giant-Carlisle struggled during the quarter with the impact of lower gas prices, the chain is working to turn things around by “[investing] aggressively in price and promotions.”
At Stop & Shop/Giant-Landover, net sales for the quarter increased 2.8 percent to $ 4.1 billion. Identical sales rose 1.7 percent at Stop & Shop (3.4 percent excluding gasoline net sales) and 3.7 percent at Giant-Landover (3.5 percent excluding gasoline net sales). Comps grew 2.3 percent at Stop & Shop and increased 4.2 percent at Giant-Landover.
Meanwhile, at Giant-Carlisle, net sales fell 0.4 percent to $ 1.1 billion, due to the aforementioned lower gas prices. Identical sales at the division declined 1.8 percent (rose 2.0 percent excluding gasoline net sales), and comps sales decreased 0.9 percent.
“In the second quarter, inflation slowed considerably and we continued to see changing customer and competitor behavior, with an increased focus on price and promotions,” the Amsterdam-based retail conglomerate noted, adding that “in the United States, Stop & Shop and Giant-Landover continued to drive improved performance.” Although Giant-Carlisle struggled during the quarter with the impact of lower gas prices, the chain is working to turn things around by “[investing] aggressively in price and promotions.”
At Stop & Shop/Giant-Landover, net sales for the quarter increased 2.8 percent to $ 4.1 billion. Identical sales rose 1.7 percent at Stop & Shop (3.4 percent excluding gasoline net sales) and 3.7 percent at Giant-Landover (3.5 percent excluding gasoline net sales). Comps grew 2.3 percent at Stop & Shop and increased 4.2 percent at Giant-Landover.
Meanwhile, at Giant-Carlisle, net sales fell 0.4 percent to $ 1.1 billion, due to the aforementioned lower gas prices. Identical sales at the division declined 1.8 percent (rose 2.0 percent excluding gasoline net sales), and comps sales decreased 0.9 percent.