{ "market" : {"NAME" : "U.S.", "ID" : "us_market", "TZ" : "ET", "TZOFFSET" : "-18000", "open" : "", "close" : "", "flags" : {}} , "STREAMER_SERVER" : "http://streamerapi.finance.yahoo.com","arrowAsChangeSign" : false,"throttleInterval": "1000"}
marketwire

Delhaize Group Reports Operating Profit Increase of 5.7% in the Third Quarter of 2009

  • Press Release
  • Source: Delhaize Group
  • On 2:15 am EST, Thursday November 5, 2009

BRUSSELS, BELGIUM--(Marketwire - 11/05/09) -


�
+-------------------------------------------------------------------+
| Financial Highlights Third Quarter 2009 (at identical exchange    |
| rates)                                                            |
|-------------------------------------------------------------------|
| � Revenue growth of 1.9% (4.8% at actual exchange rates)          |
|-------------------------------------------------------------------|
| � Comparable store sales evolution of -1.3% in the U.S. while     |
| volume trends continued to improve for the third consecutive      |
| quarter                                                           |
|-------------------------------------------------------------------|
| � Strong comparable store sales growth of 4.6% in Belgium,        |
| resulting in a significant market share increase                  |
|-------------------------------------------------------------------|
| � Solid operating margin remained stable at 4.6% (increased to    |
| 4.7% at actual exchange rates)                                    |
|-------------------------------------------------------------------|
| � Operating profit increase of 2.1% (5.7% at actual exchange      |
| rates)                                                            |
|                                                                   |
|-------------------------------------------------------------------|
| Upgrading guidance range                                          |
|-------------------------------------------------------------------|
| � Solid year-to-date results support the increase of operating    |
| profit growth expectations to be between 1% to 4% instead of 0%   |
| to 3% (at identical exchange rates and including the 53rd week in |
| 2008)                                                             |
|                                                                   |
| �  CEO Comments                                                   |
|                                                                   |
| Pierre-Olivier Beckers, President and Chief Executive Officer  of |
| Delhaize Group, commented:  "In the third  quarter of this  year, |
| Delhaize Group  demonstrated once  again its  ability to  operate |
| successfully in a  challenging environment.  While, as  expected, |
| price pressure in  the U.S.  continued to impact  sales, we  were |
| encouraged to see that targeted promotions and outstanding  store |
| execution resulted  in  improving  volume trends  for  the  third |
| consecutive quarter. In  addition, Delhaize  Belgium realized  an |
| outstanding sales  performance  supported by  its  ongoing  price |
| efforts  and  by  a  very  successful  marketing  campaign.  This |
| resulted in the largest market share  jump in a number of  years. |
| Also, our Greek operations maintained strong momentum and  posted |
| solid results."                                                   |
|                                                                   |
| "At the same time,  our operating margin  remained strong due  to |
| continued improvements in inventory  management, the strength  of |
| our private brand program and  effective cost management. We  are |
| on track with our plans to improve our cost structure by EUR  100 |
| million this year."                                               |
|                                                                   |
| "Although we are mindful of  the volatile environment, we  remain |
| confident in our  operating companies' resilience  and our  plans |
| for the rest of the year.  Our results for the first nine  months |
| of the  year  give  us  the confidence  to  upgrade  our  earlier |
| communicated guidance of 0 to 3% operating profit growth to 1  to |
| 4% at identical  exchange rates  and including the  53rd week  in |
| 2008."                                                            |
|                                                                   |
| � Contacts                                                        |
|                                                                   |
|Guy Elewaut: + 32 2 412 29 48                                      |
|Geert Verellen: + 32 2 412 83 62                                   |
|                                                                   |
|Amy Shue (U.S. investors): +1 704 633 8250 (ext. 2529)             |
|Barbera Hoppenbrouwers (media): + 32 2 412 86 69                   |
|                                                                   |
+-------------------------------------------------------------------+


This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Press release in PDF format: http://hugin.info/133961/R/1352749/327400.pdf

Copyright � Hugin AS 2009. All rights reserved.

Contact:




Sponsored Links

Copyright © 2009 Marketwire. All rights reserved. All the news releases provided by Marketwire are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.