Ahold Delhaize - Q3 sales in line, profits a touch light
Q3 sales in line with our estimates/CSS, underlying profits 2-4% lightGuidance FY23 amended: EPS and capex slightly lowered, FCF slightly raised, margin guidance repeated, new EUR 1bn SBB as expectedWe will finetune our estimates, TP lowered to EUR 31.00 (from EUR 33.50), Hold reiteratedKoninklijke Ahold Delhaize is an international group of supermarket and foodservice operators based in Europe and the U.S. Co. operates supermarkets and convenience stores. In addition, Co. provides online food retailing services. Co. also finances, develops and manages store sites and shopping centers. Ahold Europe comprises Albert Heijn in the Netherlands and Belgium; Etos, Gall & Gall, and albert.nl in the Netherlands; and Albert / Hypernova in the Czech Republic and Slovakia. Ahold USA is organized into four retail divisions: Giant Carlisle, Giant Landover, Stop & Shop New England, and Stop & Shop New York Metro. The Peapod online business is also part of Ahold USA.
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