Ahold Delhaize Reports Good Full-Year Results; EUR 21 FVE Unchanged
No-moat food retailer Ahold Delhaize reported good full-year results, with a notably strong Dutch performance driving the group. Fourth-quarter pro forma sales (already released) rose 2.8% at constant currencies, adjusting for 2015's 53rd week. The fourth-quarter pro forma margin came under some pressure, falling 12 basis points year on year, as it includes integration and transaction costs of the merger with Delhaize, but few synergies were yet generated. We are making only modest revisions to ...Koninklijke 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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