Supermarket group Ahold saw sales rise by just 0.7% in the third quarter of this year due to ongoing disappointing returns on its US activities. Sales rose to €10.3bn.
‘The third quarter was difficult in the US because of increased competition and worsening economic conditions which had pressured margins,’ Ahold said in a statement.
The Financieele Dagblad reports today that Ahold has now decided to sell off its US Foodservice arm, as well as its poorly performing Polish and Slovakian operations. Quoting ‘various sources’, the paper says the announcement will be made formally next Monday at the unveiling of the group’s ‘strategic reorientation’. Analysts told the paper they expected the sale to raise €4.5bn.
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