Ahold Q2 sales down due to weak dollar

Supermarket concern Ahold on Friday booked turnover of €5.8bn in the second quarter, down 0.8% on the same period last year as a result of the weak dollar.

The company, which generates over half of its revenue in the US, said that sales went up by 7% when measured against a constant rate of exchange.
The result was higher than analysts expected, report the financial media.
The company’s Dutch flagship Albert Heijn chain booked sales of €2.1bn in the second quarter, a rise of 14% on the same 2007 period.
Ahold said it remains committed to its earlier forecast of a retain margin between 4.8% and 5.3% for the full year.

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