Ahold Delhaize Backs Guidance
By Nina Kienle
Royal Ahold Delhaize NV on Wednesday backed its full-year outlook, as first-quarter sales rose slightly but its operating income dropped.
The Dutch grocer said its group operating income for the quarter fell 2.3% to 803 million euros ($863.7 million).
Net sales rose 0.4% to EUR21.73 billion from the same period of the prior year and compared with a consensus estimate of EUR21.53 billion provided by the company.
Group net sales were driven by comparable sales growth excluding gasoline of 1.6% and the net opening of new stores, the company said.
U.S. net sales fell 0.6% to EUR13.25 billion, while European sales climbed 4.6% to EUR8.48 billion, the company said.
The company reiterated its 2024 outlook and continues to expect an underlying operating margin of 4% or higher, as well as underlying earnings per share at around 2023 levels.
The acquisition of Profi is expected to close in the second half of 2024, doubling the size of operations in Romania, but as the timing of the closing is uncertain, the outlook excludes any impact from transactions, it said.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
May 08, 2024 02:39 ET (06:39 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Q4 Stock Market Outlook: Where We See Opportunities for Investors
-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
10 Top-Performing Dividend Stocks of Q3 2024
-
33 Undervalued Stocks
-
Communication Services: Cable’s Broadband Dominance Isn’t as Strong as It Once Was
-
Technology: Strength Continues, With Software Presenting the Best Buying Opportunities
-
Best- and Worst-Performing Stocks of Q3 2024
-
Top Stocks to Own From the Best Fund Managers
-
2 Cheap Stocks Top Managers Have Been Buying
-
The 10 Best Companies to Invest in Now