Delhaize Group revenues grew by 2.9% in U.S.Staff Writer | July 21, 2016
In the second quarter of 2016, Delhaize Group’s revenues increased by 2.8% and 4.3% at actual and identical exchange rates, respectively. Organic revenue growth was 4.3%.
Delhaize Group Underlying operating profit was €247 million
The 2.9% U.S. comparable store sales growth was fueled by continued positive real growth at both Food Lion and Hannaford and was partly offset by negative retail inflation (-1.0%).
Revenues at Delhaize Belgium increased by 2.6% driven by comparable store sales growth of 2.1% and store openings. Retail inflation in Belgium stood at 2.1%.
Revenues in Southeastern Europe grew by a strong 14.2% at identical exchange rates, driven by comparable store sales growth of 8.7%, store network expansion and a 0.5% positive calendar impact.
Underlying operating profit was €247 million, an increase of 10.4% at actual exchange rates and 12.1% at identical exchange rates compared to the second quarter of last year.
This increase was due to a higher underlying operating profit in each of the three segments, and in particular in Southeastern Europe. Underlying operating margin was 3.9% of revenues compared to 3.7% in the second quarter of 2015. ■