Ahold Delhaize: maintains profit forecast as sales jump
(CercleFinance.com) - Dutch retailer Ahold Delhaize on Wednesday reiterated its 2020 profit outlook, saying that demand across its network has increased "significantly" due to the COVID-19 pandemic.
As customers began stockpiling in March, the supermarket operator expects net sales to jump by approximately 15% in the first quarter, or 13% at constant currencies.
In the first quarter, comparable sales growth, excluding gasoline, is expected to reach approximately 14% in the US, and 10% in Europe, the grocer added.
However, the COVID-19 pandemic has created uncertainty regarding full-year sales, Ahold Delhaize said.
Nevertheless, the company maintains its full-year outlook, expecting its underlying operating margin to be broadly in line with its level in 2019.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
As customers began stockpiling in March, the supermarket operator expects net sales to jump by approximately 15% in the first quarter, or 13% at constant currencies.
In the first quarter, comparable sales growth, excluding gasoline, is expected to reach approximately 14% in the US, and 10% in Europe, the grocer added.
However, the COVID-19 pandemic has created uncertainty regarding full-year sales, Ahold Delhaize said.
Nevertheless, the company maintains its full-year outlook, expecting its underlying operating margin to be broadly in line with its level in 2019.
Copyright (c) 2020 CercleFinance.com. All rights reserved.