Supermarket group Koninklijke Ahold N.V. (AHODF.PK), Thursday, reported an increase in fourth quarter net sales, helped by an additional week compared to the prior year and "strong" volume growth in markets, despite deflation and weak trading by customers.
For the fourth quarter, the Amsterdam, The Netherlands-based company's net sales were up 3.4% to EUR 6.80 billion from EUR 6.58 billion in the prior-year period. At constant exchange rates, net sales increased 11.0% from the previous year, and adjusted net sales rose by 2.1%.
At Ahold USA division, which includes Stop & Shop/Giant-Landover and Giant-Carlisle, net sales fell 1.0% to EUR 3.88 billion from EUR 3.92 billion in the fourth quarter of fiscal 2008.
Net sales from Stop & Shop/Giant-Landover were EUR 3.01 billion versus EUR 3.07 billion in the previous year, with comparable sales up 1.3% and a 2.9% increase in comparable sales at Giant-Landover. At Stop & Shop, identical sales for the period increased 1.0%, and excluding gasoline, identical sales declined 0.4%. At Giant-Landover, identical sales were up 2.4%, and excluding gasoline, identical sales rose 1.6%.
Giant-Carlisle net sales increased to EUR 869 million from EUR 851 million in the same quarter last year, with a 4.0% rise in comparable sales. Giant-Carlisle's identical sales for the period were up 2.8%, and excluding gasoline, identical sales rose 1.0%.
In terms of US dollars, net sales from Stop & Shop/Giant-Landover division increased 10.5% to US$4.44 billion from US$4.02 billion, and Giant-Carlisle net sales were US$1.28 billion versus US$1.12 billion a year ago.
At Ahold Europe business, which includes Albert Heijn and Albert/Hypernova, net sales for the quarter increased 9.9% to EUR 2.92 billion from EUR 2.66 billion in the corresponding period last year.
Albert Heijn net sales were EUR 2.49 billion as compared with EUR 2.22 billion in the previous year quarter. At Albert Heijn supermarkets, fourth quarter net sales were EUR 2.3 billion, up 12.4% from the previous year, and identical sales increased 1.2%.
For the quarter, net sales from Albert/Hypernova slipped 1.8% to EUR 431 million from EUR 439 million in the prior-year period, negatively impacted by store closures as part of the company's restructuring program. Albert/Hypernova's identical sales for the period fell 1.4%, and excluding gasoline, identical sales was down 2.3%.
Quarterly net sales from ICA unconsolidated joint venture were up 0.8% to EUR 2.4 billion. At constant exchange rates, the joint venture net sales increased 0.1%.
For fiscal 2009, Ahold's net sales were EUR 27.93 billion, up 8.9% from EUR 25.65 billion in the same period last year. At constant exchange rates, net sales for the full year were up 6.0%, and adjusted net sales rose by 3.9%. Net sales from Ahold USA business were EUR 16.40 billion versus EUR 14.90 billion in the comparable period prior year, and Ahold Europe net sales rose 7.3% to EUR 11.53 billion from EUR 10.74 billion in the full year fiscal 2008.
For the full-year period, net sales from ICA unconsolidated joint venture dropped 5.7% to EUR 8.9 billion, and at constant exchange rates, net sales were up 1.7%.
Ahold stated that both quarterly and full-year net sales were positively impacted by an additional week as compared with the prior year, and it delivered strong volume growth in all markets in the 2009 fourth quarter. However, the company noted that sales were impacted by deflation and trading down by customers while increased promotional activity continued.
AHODF.PK last traded on January 6 at $13.50 per share on the Pink Sheets.
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