As Ahold Delhaize's second quarter comes to a close, it released impressive financial results. The retailer reported that group net sales were €22.3 billion ($24.35 billion), up 0.7 percent at constant exchange rates, and up 1.2 percent at actual exchange rates.
"I am pleased to report a second quarter performance that places us well on track to achieve our strategic aspirations and financial goals for 2024," said Frans Muller, President and Chief Executive Officer. "It has been a busy quarter, as we launched our refreshed company strategy, 'Growing Together,' internally and externally. As I said in May, we have a strong foundation, and we are ready to set the pace for change in our industry. We believe we have a very compelling set of ambitions, which, on delivery, will yield strong growth for our company and our stakeholders."
According to a press release, other highlights from the report include:
"As growth rates in the industry normalize, our omnichannel ecosystems are proving a major competitive advantage and source of market share gains," Muller continued. "In Q2, online sales were again fueled by double-digit growth in online grocery in both Europe and the U.S., excluding the divestment of FreshDirect. Here, we are seeing both new customer growth and strong customer retention. At the same time, we are making strides in e-commerce profitability. In the U.S., the shift in demand to more profitable channels and our initiatives to optimize the store-first fulfillment model are paying off."
For the full report, click here.
We will keep an eye out for more financial reports from retailers, so stick around.
