Albert Heijn’s parent company Ahold Delhaize books sales up 16% in Q2
Supermarket group Ahold Delhaize, the parent company of Albert Heijn and online retailer Bol.com, booked net profit of €693m in the second quarter of 2020, double last year’s figure.
At the same time, the company said Q2 costs were up by €260m, because of logistics and safety issues introduced to cope with coronavirus.
Bol.com in particular benefited from the switch to online shopping, with Q2 sales up almost 70% at €1.34bn.
Most growth, however, was generated in the US, where the company operates several large supermarket chains. Total Q2 net sales hit €19bn, a rise of some 16% year on year.
The company said in a statement that Covid-19 continues to create significant uncertainty for its 2020 outlook. However, the statement said, due to the company’s strong performance in the first half of the year, its guidance for underlying operating margin, underlying earnings per share, and free cash flow is being raised.
In particular EPS growth is expected to be in the low-to-mid-20% range.
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