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BELGIUM: Delhaize reports surge in Q4 growth

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Delhaize has ended its fiscal year on a better-than-expected note, reporting strong gains for its fourth quarter, prompting CEO Frans Muller to remark that its new strategy had “resonated” with consumers.

For the quarter, revenues rose by 11.4% to €5.8bn (+6.3% on a constant-currency basis), while calendar-adjusted revenue was up 6.4% (+1.3% constant-currency).

The results were largely driven by its US operations, which saw revenues jump a calendar-adjusted 12.7% in euro terms (+3.8% dollar terms), on like-for-like growth of 3.6%. The group also recorded growth in Southeastern Europe, where sales were up 2.8% (+4% constant-currency), although LFL sales were down 2.2%. Those results helped offset a 6% decline in Belgium, where results were impacted by worker disputes at its stores and distribution centres.

The results sent full-year revenues up 3.7% to €21.4bn (+3.9% constant-currency), with calendar-adjusted revenues up 2.5%. (www.kamcity.com)



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