Supermarket giant Ahold Delhaize 4th-quarter profit soars



This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

THE HAGUE, Netherlands (AP) — Ahold Delhaize, the Dutch-Belgian operator of supermarket chains including Stop & Shop and Giant in the United States, says fourth-quarter net profit soared by more than 300 percent to 744 million euros ($909 million) from the same period a year ago, when one-off costs of 243 million euros dented profits.

The company said Wednesday the profit was boosted by a strong holiday season and a reduction in its income tax expenses due to tax reforms in the U.S. and Belgium.

Sales edged down 3.6 percent to 15.76 billion euros ($19.25 billion), although the company says sales would have risen by 1.6 percent at constant exchange rates.

CEO Dick Boer says that "in a dynamic environment, our great local brands delivered strong results, tapping into changing consumer behavior."

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast