Delhaize Sees 1.3 Per Cent Revenue Growth In Belgium
Belgian retailer Delhaize has posted a 1.3 per cent growth in revenues in its home market in 2015, with comparable store sales growth of 0.9 per cent.
The retailer posted its Q4 and full year results this morning (22 January), which revealed that Delhaize Belgium posted revenue of €5.0 billion for the year, and €1.3 billion in Q4.
In the US, Delhaize America posted revenue growth of 2.2 per cent in 2015 to €16 billion, compared to 2014 in local currency. Comparable store sales growth was 2.2 per cent.
In Southeastern Europe, revenue increased by 13.3 per cent (+13.5 per cent at identical exchange rates) to €942 million, the retailer said.
“In 2015, in line with our strategy outlined two years ago, we kept our focus on our customers and made good progress on our strategic initiatives,” said chief executive Frans Muller.
“Specifically at Food Lion, the revenue uplift from Easy, Fresh & Affordable is delivering according to plan and costs are under control, and in Belgium, the implementation of the Transformation Plan is well advanced. We recorded revenue increase at all our banners. Our underlying operating profit was approximately €870 million. In addition, we generated another solid level of free cash flow this year at approximately €645 million, excluding one-time elements.”
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.