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Supermarket owner Ahold's profit dips in Q2

Supermarket owner Ahold's profit dips in Q2

Supermarket operator Royal Ahold NV, owner of U.S. grocery chains Stop & Shop and Giant, says its profits dipped in the second quarter from a year ago amid fierce price competition.
In the U.S., Ahold's largest arm, sales rose 5.3 percent from the same period a year ago to $5.8 billion ((EURO)4.03 billion), while operating profits fell 23 percent to $209 million. Ahold Thursday attributed about two-thirds of the fall to restructuring charges, and the rest to eroding margins.
Companywide net profit was down 1.5 percent, to (EURO)199 million ($287 million) from (EURO)202 million _ due to a weaker dollar and the reversal of a one-time loss a year ago at Scandinavian chain ICA. Ahold's sales fell 3.7 percent to (EURO)6.87 billion due to the weaker dollar.


Updated : 2021-10-20 22:00 GMT+08:00