Ahold to Unveil Sales Data Next Week
AMSTERDAM -- Ahold will give its wary investors a first peek into its internal affairs next week when it publishes a sales update on an unspecified day next week, Reuters reports.
The sales figures will be the first signal of the beleaguered retailer's financial performance at the group, with more than $13.79 billion in debt. Further, anecdotal evidence suggests second-quarter sales declines in the industry are less pronounced than in the first quarter.
Ahold, which has not made earnings reports available since the third quarter of 2002, after its much-publicized accounting scandal erupted in February, needs to present its 2002 audited results to its lending banks by Aug. 15 and will publish them afterward.
Yesterday, Ahold said Philips Electronics' finance director, Jan Hommen, had been appointed chairman of Ahold's audit committee.
The sales figures will be the first signal of the beleaguered retailer's financial performance at the group, with more than $13.79 billion in debt. Further, anecdotal evidence suggests second-quarter sales declines in the industry are less pronounced than in the first quarter.
Ahold, which has not made earnings reports available since the third quarter of 2002, after its much-publicized accounting scandal erupted in February, needs to present its 2002 audited results to its lending banks by Aug. 15 and will publish them afterward.
Yesterday, Ahold said Philips Electronics' finance director, Jan Hommen, had been appointed chairman of Ahold's audit committee.