03 jun: Nedturen har skabt spændende købsmuligheder
07 jun: NETWORKING – SPILD AF TID ELLER GENVEJEN TIL SUCCES?
06-06-2012 07:50:00

Ahold Suffers From Price Competition In 1Q

By Robert van den Oever

Of DOW JONES NEWSWIRES

AMSTERDAM--Retailer Royal Ahold NV (AH.AE), which runs the Stop & Shop and Giant supermarket chains in the U.S., Wednesday posted a slight fall in first-quarter net profit as intense price competition weighed on margins.

Ahold expects 2012 to be challenging, with price competition continuing and consumer spending under pressure, said Chief Executive Dick Boer, although he added that he's encouraged by the improving sales trend in the second quarter.

The company is outperforming Belgian rival Delhaize Group (DELB.BT) in the U.S., even though its flagship chains have faced fierce competition as retailers battled to lure increasingly price-sensitive customers. Delhaize makes more than half of its sales in the U.S., but Ahold gained market share there during the first quarter with increased promotional activity.

In the Netherlands, which accounts for a third of Ahold's sales, the retailer is suffering from low consumer confidence as shoppers grapple with the government's austerity measures, although it managed to maintain its market share. Its core chain, Albert Heijn, has around 33% market share, which will grow due to the recent acquisition of 82 stores from competitor Jumbo.

In the three months to March 31, Ahold's net profit fell 3.1% to EUR282 million from EUR291 million a year earlier. Analysts had forecast a rise to EUR305 million, according to FactSet.

Net sales totaled EUR9.71 billion, up 5% from a year earlier, short of analysts' expectations for EUR9.81 billion. Sales growth was a healthy 2.8% in the U.S. and a modest 1.2% in the Netherlands.

Underlying margin dropped to 4.3% from 4.6% and operating result was down 6.3% to EUR416 million.

Ahold said it is on target to deliver EUR350 million in cost savings for the next three years.

In the coming quarters, Ahold's sales and profit will benefit from the consolidation of its recent acquisitions: online retailer Bol.com and 82 stores in the Netherlands from Jumbo.

Delhaize last month swung to a first-quarter net loss, which it attributed to charges related to store closures in the U.S. under its unprofitable Food Lion brand, as well as openings under its discount Bottom Dollar chain. Its volumes have taken a tumble after it raised prices at Food Lion in an effort to pass on cost inflation to customers, but improved in the first quarter from the fourth quarter of 2011. The Belgian company said underlying operating profit is this year expected to decrease by 15% to 20% at identical exchange rates compared with 2011--far below market expectations.

Ahold is in the process of putting its EUR2.6-billion cash pile to better use, with a focus on organic growth and bolt-on acquisitions. The acquisition of Bol.com, announced in February and completed in May, was an important step. It also aims to open a fifth store in Belgium, aiming for 10 by the end of 2012 and 50 in the next five years. It will open its first German store in the third quarter.

Ahold's shares closed at EUR9.59 on Tuesday, valuing the company at EUR10.5 billion.

Write to Robert van den Oever at robert.vandenoever@dowjones.com

(END) Dow Jones Newswires

June 06, 2012 01:50 ET (05:50 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
22 jan
 
Jeg har idag meldt Roland333 til finanstilsynet for gentagende gange at have overtrådt Artikel 12 st..
69
18 jan
OMXC25
@ Poppelkongen: Jeg tror ski da, at du har misforstået brugen af filteret?! Når du nævner, at du er..
37
11:47
 
  På den aktuelle liste over BEDST VURDEREDE INDLÆG handler 8 ud af 10 – altså 80% - om at melde hin..
34
06:44
 
og du er sammen med lpe123 blevet anmeldt til børneværnet. 
30
09:23
 
Her til moirgen har jeg fået tilbagemelding fra Finanstylsynet, om at de har oprettet en sag og unde..
26
17 jan
 
Hej alle,   Nu hvor jeg tager et sabat-år som investor i 2018, tænkte jeg, at jeg ville lave en upda..
26
19 jan
 
Jeg har på en fornemmelsen at i ikke bryder jer om mig? Ik sandt? Så har overvejet at stoppe på EI. ..
24
08:29
 
@roland333,   2 ting!   1.) Du ved ikke engang hvordan man melder en person til finans-tilsynet.    ..
22
13:16
GEN
Tror ikke der er mange der forventer, at du forstår noget Roland.
20
20 jan
 
Jeg stiller mig tvivlende,,,,,: At som dansk at betale til Prins Henrik & Co der skider DK en hatful..
19

Mærsk/Sydbank: Drilling-salg er realistisk - ikke nødvendigvis elegant

23-01-2018 13:17:37
Det giver fin mening, at A.P. Møller Holding sammen med en ukendt industripartner skulle være tæt på at købe borerigselskabet Maersk Drilling af A.P. Møller-Mærsk.Ifølge Berlingske Business, der har talt med flere anonyme kilder, skulle handlen have en værdi af over 27 mia. kr.- Til trods for stigende oliepriser er drilling stadig et presset marked. Der er ingen af Mærsks konkurrenter, der har pen..

Aktier/åbning: Tryg går til bunds i positivt marked - Mærsk stiger

23-01-2018 09:24:18
Tryg halter tirsdag morgen lidt efter det generelle marked, efter at forsikringskoncernen har skudt regnskabssæsonen ind med tal for fjerde kvartal, der peger i flere retninger.Målt på det forsikringstekniske resultat slog Tryg akkurat analytikerforventningerne. Til gengæld haltede bundlinjen lidt efter forventningerne blandt andet som følge af en lidt skuffende investeringsafkast. Også bruttopræm..

Aktier/tendens: Tryg kommer med lunkent regnskab i varmt marked

23-01-2018 08:44:18
Mens tirsdagens åbning tegner positiv, så kan Tryg halte lidt efter det generelle marked, efter at forsikringskoncernen har skudt regnskabssæsonen ind med tal for fjerde kvartal, der peger i flere retninger.Målt på det forsikringstekniske resultat slog Tryg akkurat analytikerforventningerne. Til gengæld haltede bundlinjen lidt efter forventningerne blandt andet som følge af en lidt skuffende inves..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Genmab: Partner melder om vækst i Darzalex-salg på 86 pct.
2
Danske Bank/RBC: Konsensus for udlodninger efter 2018 er for høje
3
Aktier/middag: Salgsrygter sender Mærsk til tops i positivt marked
4
Torm sætter tal på 2017 og udnytter optioner på to skibe - NY
5
Aktier/åbning: Tryg går til bunds i positivt marked - Mærsk stiger

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2018  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
23. januar 2018 16:40:41
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20180122.2 - EUROWEB4 - 2018-01-23 16:40:41 - 2018-01-23 16:40:41 - 1 - Website: OKAY