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Ahold's Q1 Results Reflect Energy Costs
AMSTERDAM -- Ahold here yesterday posted sales of 14.1 billion euros for the first quarter of 2006, reflecting an increase of 8.6 percent over the year-ago period. Even excluding the impact of currency, net sales at the company rose 2.1 percent. Still, the retail conglomerate acknowledged that during the quarter "market conditions remained competitive and, particularly in the United States, energy costs continued to impact consumer behavior." -
Former Ahold Execs Convicted and Sentenced in Fraud Case
AMSTERDAM -- Cees van der Hoeven, the ex-c.e.o. of retail conglomerate Ahold here, and the company's former c.f.o., Michiel Meurs, were found guilty of fraud by a Dutch court and both sentenced to nine-month suspended jail terms yesterday after a nine-week trial, according to published reports. The fraud was in connection with an accounting scandal that came to light in 2003 and subsequently hurled Ahold into financial disarray, from which it has gradually been emerging.