Signs of turnaround completion
Dutch retail giant Ahold revealed its second-quarter figures today, with net sales down 0.9 per cent to Eu10.4 billion over the period (£7.22 billion).
The retailer said the dip was caused by a weaker dollar, and that sales showed a 0.6 per cent rise if the impact of currency conversion was taken away.
Ahold generates 70 per cent of its revenues in the US. It operates the Stop & Shop, Giant and Tops brands, as well as catering supplier Foodservice.
This week, Ahold president and chief executive officer Anders Möberg (pictured) announced the retailer's first acquisition since it kicked off its turnaround strategy, in response to a Eu970 million (£673.1 million) profit overstatement uncovered in February 2003.
The retailer also announced the acquisition of up to 67 supermarkets in the Czech Republic from Julius Meinl.
No comments yet