Supermarket group Ahold beat forecasts

Supermarket group Ahold turned in a better than forecast performance in the second quarter of this year, with operating profit up 26%.

The company remains ‘well positioned in an increasingly competitive environment to deliver our strategy for profitable growth and manage the balance between sales and margins,’ CEO John Rishton said in a statement.
As announced earlier, sales were up 11% at €6.4bn. Net earnings were down 42% at €195m, above the average €184m forecast by analysts. The company’s 2008 earnings were inflated by the sale of the company’s stake in Schuitema.
News agency Reuters states that ‘Ahold has been outpacing many of its rivals due to a deep restructuring that began well before the economic downturn, with a revamp of its stores and operations’.
Ahold operates the Dutch market share leader Albert Heijn and has considerable operations in the US.

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