Despite Dodgy Economy, Ahold's Q3 Sales Rise
Ahold Friday late last week posted consolidated net sales of 5.8 billion euros for its third quarter ending Oct. 5, 2008, a gain of 3.9 percent (7.6 percent at constant exchange rates) against performance in the year-ago period.
“In the turbulent economic environment, our continued focus on bringing value to our customers led to a solid performance,” said the multichain grocer. “We remain vigilant and will respond to any changes in consumer and competitor behavior.”
The solid performance the Amsterdam-based company extended to its U.S. banners, which have in the past have struggled in their highly competitive retail landscapes.
In the Stop & Shop/Giant-Landover arena, sales grew 4.4 percent to $3.9 billion, including $14 million of sales attributed to Tops. Before Tops' sale to Morgan Stanley Private Equity last year, such transactions were recorded as inter-company sales.
Identical sales rose 4.6 percent at Stop & Shop (3.8 percent excluding gasoline net sales); and went up 0.7 percent at Giant-Landover (0.6 percent excluding gasoline net sales), affected by lower pharmacy sales. Comparable sales increased 4.8 percent at Stop & Shop and 1.0 percent at Giant-Landover.
At Giant-Carlisle, the financial picture was even more impressive: Net sales rose 11.8 percent to $1.1 billion, identical sales increased 8.0 percent (5.4 percent excluding gasoline net sales), and comps sales went up 8.7 percent.
“In the turbulent economic environment, our continued focus on bringing value to our customers led to a solid performance,” said the multichain grocer. “We remain vigilant and will respond to any changes in consumer and competitor behavior.”
The solid performance the Amsterdam-based company extended to its U.S. banners, which have in the past have struggled in their highly competitive retail landscapes.
In the Stop & Shop/Giant-Landover arena, sales grew 4.4 percent to $3.9 billion, including $14 million of sales attributed to Tops. Before Tops' sale to Morgan Stanley Private Equity last year, such transactions were recorded as inter-company sales.
Identical sales rose 4.6 percent at Stop & Shop (3.8 percent excluding gasoline net sales); and went up 0.7 percent at Giant-Landover (0.6 percent excluding gasoline net sales), affected by lower pharmacy sales. Comparable sales increased 4.8 percent at Stop & Shop and 1.0 percent at Giant-Landover.
At Giant-Carlisle, the financial picture was even more impressive: Net sales rose 11.8 percent to $1.1 billion, identical sales increased 8.0 percent (5.4 percent excluding gasoline net sales), and comps sales went up 8.7 percent.