Ahold Net Sales Up 1.1% in Q3
Meanwhile Ahold has announced a major three-year investment plan to remodel or replace approximately 100 Giant Food supermarkets in Delaware, Maryland, Virginia, and Washington DC.
26/10/07 Ahold announced consolidated net sales of €6.3 billion for the third quarter ending October 7, 2007. Compared to the third quarter of 2006, net sales increased by 1.1% and increased by 5.6% at constant exchange rates.
In the United States, price investments related to the further roll-out of the Value Improvement Program, launched in September 2006 at Stop & Shop and Giant-Landover, will continue to impact margins. At Giant-Carlisle, seasonally low sales will also be reflected in margins. In the Netherlands, market conditions remained favorable.
Meanwhile Ahold has announced a major three-year investment plan to remodel or replace approximately 100 Giant Food supermarkets in Delaware, Maryland, Virginia, and Washington DC. The store remodeling program, named "Project Refresh", will represent Ahold's largest investment in the Giant Food stores since acquiring the chain in 1998.
José Alvarez, President and CEO of Stop & Shop/Giant-Landover, said today "We are very excited about what this investment will bring to our Giant customers, employees and local communities. The remodeling program underscores our commitment to continuing to be the supermarket of choice in these markets."
The investment will focus on improving Giant's perishable food sections and modernizing the stores to improve customer convenience. Giant expects to keep its existing stores open during the remodeling process.
Giant Food is headquartered in Landover, Maryland, operates 185 supermarkets in Virginia, Maryland, Delaware, and Washington DC, and employs approximately 21,000 employees.
