Ahold profit falls after unit disposal; sales riseAugust 22, 2013 @ 12:10 am
AMSTERDAM (AP) - Royal Ahold NV, the Dutch operator of US supermarket chains Stop & Shop and Giant, says its underlying profit rose in the second quarter due to slow but steady economic growth.
Net profit fell 17 percent to 206 million euros ($275 million) because company sold its 50 percent stake in Scandinavian chain ICA earlier this year. Sales were 7.8 billion euros, up 1 percent _ restating last years' figures to remove ICA.
CEO Dick Boer said sales grew at 3 percent comparing like for like and ignoring currency effects. US sales grew 2 percent and Dutch sales 5.6 percent.
He said the company won market share in the U.S., and operating margins had improved slightly from a year ago.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
What Took So Long?
WSDOT explains why it took so long to clean up a collision on I-5 Monday morning
Coach Pete Carroll is disappointed Percy Harvin didn't work out
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.