ZAANDAM, THE NETHERLANDS - Ahold Delhaize is implementing a new long-term company growth strategy, resulting in a solid third quarter for fiscal year 2024.

"I am pleased to report a solid performance in the third quarter, placing us well on track to achieve our strategic objectives and underlying financial goals for the year,” shared Frans Muller, President and Chief Executive Officer. “As our brands operate in dynamic market environments, we are keeping a clear focus on elevating the customer value proposition, maintaining a sharp eye on cost levels, and taking the right measures to step into our new Growing Together strategy, which is designed to drive consistent growth and long-term value creation.

Ahold Delhaize has implemented strategic price investments and remodeled store locations as part of its ongoing growth blueprint. As a press release shared, the retailer also continues to benefit from structural changes in its brands, such as through the Belgium Future Plan and ongoing cost savings initiatives, which have provided a strong foundation to invest in and accelerate growth as it steps into its new Growing Together strategy.

"Returning to our performance this quarter, group net sales increased by 1 percent at constant rates, and comparable sales growth excluding gasoline was 1.4 percent. Thanks to strong operational execution by our teams and associates in the quarter, diluted underlying EPS was €0.62, an increase of 7 percent at actual rates,” Frans added. “On an IFRS basis, we delivered operating income of €583 million and diluted EPS of €0.40. IFRS results were impacted by non-recurring costs, largely related to the costs associated with the previously announced closure of underperforming stores at Stop & Shop and the transition of stores as part of the Delhaize Belgium Future Plan. Excluding these effects, our underlying operating margin improved modestly in the quarter, driven by a continued recovery in Europe and a stable U.S. performance.”

The company’s various growth investments include expanding its omnichannel infrastructure and enhancing its digital loyalty programs.

"Rolling out new technology and innovation is a fundamental enabler of our Growing Together strategy, particularly as we look to elevate the customer experience and bring more value to shoppers in real-time,” continued Frans.

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