Ahold Delhaize Presents Broadly In-Line Guidance and Revamped Growth Strategy in CMD
On Nov. 13, Ahold Delhaize presented its renewed growth strategy ("Leading Together") and updated its guidance at capital markets day in New York. Following this mostly in line print, we maintain our no-moat rating and do not expect a material change to our EUR 19.5 per share ($23.5 per ADR) fair value estimate after updating our model for minor changes in guidance. At the time of writing, shares trade around 17% higher than our fair value estimate. We believe consensus does not factor in the im...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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