Ahold, an international group of supermarkets based in the US and Europe, has recorded net sales of €7,126 million for the second quarter ended July 18, 2010. The sales were up 10.8 per cent from the €6,430 million reported in the corresponding quarter in 2009.
The operating income for the quarter stood at €347 million, up 17.6 per cent from the €295 million in the second quarter of 2009. Similarly, the retailer’s net income for the quarter was up 3.1 per cent, at €202 million, from the €196 million reported in the corresponding quarter a year ago.
Ahold, which also released the report for the first half (HY) of 2010, recorded net sales of €15,863 million for HY 2010, up 5.2 per cent from the €15,084 million recorded in the first half of 2009.
Net income stood at €476 million, up 24 per cent from the €384 million recorded in the first half of 2009, primarily due to year-over-year changes in Ahold’s estimate of its net provision for losses under lease guarantees related to its former subsidiaries BI-LO and Bruno’s.
CEO John Rishton said, “We continued to grow sales, volumes and market share in the Netherlands and the US while delivering solid financial results. Market conditions remained challenging with high levels of competitive promotional activity. We are confident in our ability to continue to balance sales and margins while providing improved value to our customers.”
– IndiaRetailing Bureau
