Modest sales growth in first quarter partly impacted by timing of Easter
· Sales €9.7 billion (up 1.9 percent at constant exchange rates)
· Operating income €416 million (down 6.3 percent)
· Net income €282 million (down 3.1 percent)
· Underlying operating margin 4.3 percent (underlying retail operating margin
· Acquisitions announced of 16 Genuardi's stores on January 5 and
82 C1000/Jumbo stores on April 26
· bol.com acquisition completed May 9
Amsterdam, the Netherlands, June 6 2012 - Ahold today published its interim report for the first quarter of 2012.
CEO Dick Boer said: "Sales growth in the first quarter was modest at 1.9 percent at constant exchange rates, reflecting the timing of Easter and challenging market conditions. However, we saw underlying trends improving slightly as the quarter developed and are encouraged by the sales trend in the second quarter, albeit against a background of weak market conditions.
"We continued to invest in competitiveness both in the United States and in Europe with higher levels of promotional activity, resulting in market share gains in the United States and maintaining our market share in the Netherlands.
"As we said before, we expect 2012 to be another challenging year for the food retail industry, with intense competitive activity and consumer spending under pressure due to economic uncertainty, particularly in Europe. We remain confident that our strong brands are well positioned and are well on track to deliver on our strategy.
"We will continue to invest in growth and are very pleased to have completed the acquisition of bol.com, whose capabilities will accelerate Ahold's online growth, and look forward to completing our announced acquisitions of the Genuardi's and C1000/Jumbo stores, which will extend our network in our two key markets."
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Ahold Q1 2012 results press release
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