Competition hits supermarket group Ahold
Earnings at supermarket group Ahold were pressured by a downturn in sales for some products and strong competition in the Dutch market.
In addition, the expensive euro and timing of Easter – which took place in the first quarter – depressed second quarter earnings, the Financieele Dagblad reported on Thursday.
Ahold also booked a one-off cost of €29m for reorganisations, including the loss of 200 jobs at its headquarters in Zaandam.
Sales in the second quarter of the year were down 4.1% on 2013 at €7.4bn. The decline would have been 1.1% at constant exchange rates. Net profit fell almost 30% to €147m. However, online sales rose nearly 19% to €273m.
Ahold operates the Albert Heijn, Bol.com, Etos and Gall & Gall brands in the Netherlands.
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