Dutch supermarket Ahold hits record high as sales growth beats estimates
May 7 (Reuters) - Retailer Ahold Delhaize (AD.AS), opens new tab posted higher-than-expected first-quarter sales growth on Wednesday, buoyed by higher volumes in both the U.S. and Europe, sending its shares to a record high.
In the U.S., where the Dutch supermarket group generates more than half of its revenue, comparable sales grew 3.1%, above the 1.9% expected by analysts, driven by growth in online and pharmacy sales.
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Ahold, which owns supermarket chains Food Lion and Stop & Shop, implemented further price investments in the U.S., which were welcomed positively by more value-focused customers in an uncertain environment, group CEO Frans Muller said during a call with analysts.
During negotiations with suppliers, the retailer faced increased requests to consider price hikes, CFO Jolanda Poots-Bijl told Reuters, adding that it "does not expect unwarranted price increases".
"We expect our suppliers to protect consumers, just as we are doing, and also to look at their costs."
Degroof Petercam analysts said that thanks to a consistent balancing of top line growth, margins, cash generation and shareholder remuneration, "AD clearly outperformed the Benelux consumer goods sector, despite operating in mature and very competitive markets".
Jefferies said Ahold's core profit beat estimates on volume improvements in the U.S. and Europe, as the group gains market share, and expects this trend to have continued into Easter.
The expansion of Ahold's omnichannel infrastructure and digital loyalty programs supported "strong results in both regions", with a double-digit growth in online retail, group CEO Frans Muller said in a statement.
Ahold had said its omnichannel approach, which integrates physical shops, apps, and websites, results in shoppers spending between 1.5 times and 3 times more in its most mature markets.
The group confirmed its outlook for 2025, while warning of a potential earnings impact due to currency translation.
Shares in the company rose as much as 6% to an all-time high of 38.76 euros.
($1 = 0.8807 euros)
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