Ahold Delhaize Shares Solid Q2 Performance and Updated Yearly Outlook; Frans Muller Comments

Thursday, Aug. 8th, 2024

by Chandler James

Sponsored Message

Volume :

ZAANDAM, THE NETHERLANDS - With the second quarter coming to a close for many companies, Ahold Delhaize recently released its financial results. Most notably, the retailer reported that group net sales were €22.3 billion ($24.35 billion), up 0.7 percent at constant exchange rates and up 1.2 percent at actual exchange rates.

Frans Muller, President and Chief Executive Officer, Ahold Delhaize

"I am pleased to report a second quarter performance that places us well on track to achieve our strategic aspirations and financial goals for 2024,” said Frans Muller, President and Chief Executive Officer. “It has been a busy quarter, as we launched our refreshed company strategy, 'Growing Together,' internally and externally. As I said in May, we have a strong foundation, and we are ready to set the pace for change in our industry. We believe we have a very compelling set of ambitions, which, on delivery, will yield strong growth for our company and our stakeholders.”

According to a press release, other highlights from the report include:

Online sales increased by 3.4 percent in Q2 at constant exchange rates and by 3.9 percent at actual exchange rates
Q2 underlying operating margin was 4.2 percent, an increase of 0.1 percentage points due to strong performance in both the United States and Europe
Q2 diluted underlying EPS was €0.65 ($0.71), an increase of 4.5 percent compared to the prior year at actual rates

In its second quarter results, the retailer reported that group net sales were €22.3 billion ($24.35 billion), up 0.7 percent at constant exchange rates and up 1.2 percent at actual exchange rates

“As growth rates in the industry normalize, our omnichannel ecosystems are proving a major competitive advantage and source of market share gains,” Muller continued. “In Q2, online sales were again fueled by double-digit growth in online grocery in both Europe and the U.S., excluding the divestment of FreshDirect. Here we are seeing both new customer growth and strong customer retention. At the same time, we are making strides in e-commerce profitability. In the U.S., the shift in demand to more profitable channels and our initiatives to optimize the store-first fulfillment model are paying off.”

For more from the press release, click here.

ANUK will continue to keep you updated on the latest in grocery retail.

Ahold Delhaize