Ahold to tighten belt in renewed cost savings programme
Thursday 29 November 2012
Supermarket group Ahold said on Wednesday it is increasing its cost savings programme from €350m to €600m to fuel further investments.
CEO Dick Boer said the belt-tightening would provide a better offering and value for customers. He was speaking at the Ahold Capital Markets Days in Philadelphia in the US.
'We are very pleased with the progress we are making,' Boer told the gathering of analysts and investors. 'There are multiple initiatives underway in the US and Europe to drive identical sales growth, deliver a multi-channel offering to customers and expand our geographic reach,' he said.