Ahold sales climb in quarter
October 24, 2008
by Eric Schroeder
AMSTERDAM, THE NETHERLANDS — Royal Ahold n.v., the owner of Stop & Shop stores in the United States, said sales climbed to €5,806 million ($7,340 million) in the third quarter ended Oct. 5, up 3.9% from €5,587 million in the same period a year ago. The company said its performance was boosted by price cuts in North America that helped attract more U.S. consumers.
"In the turbulent economic environment, our continued focus on bringing value to our customers led to a solid performance," Ahold said in a third-quarter trading statement issued Oct. 24. "We remain vigilant and will respond to any changes in consumer and competitor behavior."
Net sales rose 4.4% to $3,910 million in local currency at Stop & Shop / Giant-Landover stores during the quarter, while Giant-Carlisle stores posted sales of $1,092, up 11.8%.
Sales rose 4.6% in local currency at Stop & Shop stores open at least a year and climbed 0.7% at the Giant- Landover unit on that same basis.