Retailer Ahold Delhaize recently had the chance to show off the success of several of its strategies as it announced strong financial results for the first quarter of its fiscal year. In its report, the grocer revealed several key highlights, including a net sales increase of $1.56 billion from Q1 2021.
"I am pleased to report a strong start to the year for Ahold Delhaize," said Frans Muller, President and Chief Executive Officer. "In times like these, our strong global portfolio of local brands provides distinct competitive and societal advantages. This allows us to successfully navigate short-term market volatility and, at the same time, provide financial stability and operational bandwidth to focus on our long term growth agenda."
For this quarter, net sales increased 8.3 percent to $20.61 billion (€19.8 billion). In 2021, net sales weighed in at $19.05 billion (€18.3 billion). According to the report, this increase is largely due to food-at-home consumption remaining top of mind for consumers.
Other metrics from the report include:
"Through our 19 great local brands, on the whole, we lapped prior year pandemic lockdowns with further market shares gains and healthy growth rates in our online grocery business while, at the same time, preserving our industry-leading profitability metrics," Muller continued.
To read the report in its entirety, please click here.
How will Ahold continue its forward momentum in Q2? Stay tuned to Deli Market News to find out.