The parent company of East Coast retail giant Ahold USA reported strong third-quarter performances worldwide and in its U.S. stores.
Net sales increased 7.4 percent and net income 54 percent in the third quarter compared to last year for Zaandam, the Netherlands-based Ahold Delhaize. The company also reported a 20% uptick in online business net sales and reaffirmed its 2017 guidance.
“We reported a strong financial performance again this quarter as margins increased significantly, driven by synergies, while savings from our ‘save for our customers’ programs are continuously being reinvested in the business,” says Dick Boer, Ahold Delhaize’s CEO.
In the U.S., sales performance improved, and Ahold Delhaize gained market share despite a very competitive retail landscape, according to the company. Ahold USA net sales rose .8% in the third quarter and comparative sales rose .7%. Ahold banner Food Lion recorded its 20th consecutive quarter of volume growth.
In addition to Food Lion, Ahold USA banners include Stop & Shop, Hannaford, Giant, Martin’s and the online grocery delivery service Peapod.