Ahold Delhaize : “Spectacular†Q2 2020 results. Buy rating reiterated, target price lifted from € 28 to € 30. Ahold Delhaize remains our Top Pick in the sector
>Q2 2020 results: l-f-l growth +16.4% with +20.6% in the US - Contrary to what we expected, Ahold Delhaize repeated in Q2 the momentum seen in Q1, which was boosted by consumer stockpiling ahead of the lockdown. Consolidated sales grew 15.9% organic in Q2, with +16.4% l-f-l growth vs 8.6% estimated and +12.5% in Q1 2020.Growth was particularly strong in the US (62% of consolidated sales) with l-f-l growth of 20.6% vs 10.4%e and 14.6% in Q1. The transfer of out-of...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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