Ahold earnings hit by weak dollar

Supermarket group Ahold saw turnover fall 1.3% to €7.5bn in the first quarter as a result of the weak US dollar. The decrease is bigger than analysts expected.

Based stable exchange rates, the latest figures would have registered 6.8% growth, the company said. Ahold generates over half of its turnover in the US.
The company’s Dutch Albert Heijn stores (33% of total turnover) booked a 13.5% rise in turnover in the first quarter at €2.7bn. This is higher than analysts expected and above the market growth rate, reports news agency ANP.
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