Amsterdam, the Netherlands - Ahold today announced consolidated
net sales of EUR 5.8 billion for the third quarter ending October
5, 2008. Compared to the third quarter of 2007, net sales increased
by 3.9% and increased by 7.6% at constant exchange rates.
In the turbulent economic environment, our continued focus on
bringing value to our customers led to a solid performance. We
remain vigilant and will respond to any changes in consumer and
competitor behavior.
Sales performance
Stop & Shop / Giant-Landover
* Net sales increased 4.4% to USD 3.9 billion.
* Net sales included USD 14 million of sales to Tops. Prior to its
disposal, such sales were recorded as inter-company sales.
* Identical sales increased 4.6% at Stop & Shop (3.8% excluding
gasoline net sales) and increased 0.7% at Giant-Landover (0.6%
excluding gasoline net sales), impacted by lower pharmacy sales.
* Comparable sales increased 4.8% at Stop & Shop and increased 1.0%
at Giant-Landover.
Giant-Carlisle
* Net sales increased 11.8% to USD 1.1 billion.
* Identical sales increased 8.0% (5.4% excluding gasoline net
sales).
* Comparable sales increased 8.7%.
Albert Heijn
* Net sales increased 12.2% to EUR 2.0 billion.
* Net sales at Albert Heijn supermarkets increased 12.6% to EUR 1.9
billion.
* Identical sales at Albert Heijn supermarkets increased 8.3%.
Albert / Hypernova (Czech Republic and Slovakia)
* Net sales increased 15.8% to EUR 411 million (1.5% at constant
exchange rates).
* Identical sales increased 2.6%.
Unconsolidated joint venture - ICA
* Net sales increased 7.7% to EUR 2.4 billion. At constant exchange
rates, net sales increased 9.6%.
Net sales per segment
Q3 2008 Q3 % Q3 YTD Q3 YTD %
(in millions) 2007 Change 2008 2007 Change
All segments
(in euros)
Stop & Shop /
Giant-Landover 2,633 2,717 (3.1%) 8,610 9,492 (9.3%)
Giant-Carlisle 736 709 3.8% 2,387 2,433 (1.9%)
Ahold USA 3,369 3,426 (1.7%) 10,997 11,925 (7.8%)
Albert Heijn 2,026 1,806 12.2% 6,796 5,997 13.3%
Albert /
Hypernova 411 355 15.8% 1,334 1,131 17.9%
Ahold Europe 2,437 2,161 12.8% 8,130 7,128 14.1%
Ahold Group 5,806 5,587 3.9% 19,127 19,053 0.4%
Unconsolidated
joint venture -
ICA 2,405 2,234 7.7% 7,104 6,515 9.0%
Average U.S.
dollar exchange
rate
(EUR per USD) 0.6736 0.7253 (7.1%) 0.6589 0.7431 (11.3%)
U.S. segments
(in U.S.
dollars)
Stop & Shop /
Giant-Landover 3,910 3,747 4.4% 13,069 12,772 2.3%
Giant-Carlisle 1,092 977 11.8% 3,623 3,274 10.7%
On June 30, 2008, Ahold completed the sale of its 73.2% interest
in Schuitema N.V. to private equity firm CVC Capital Partners.
Schuitema was classified as a discontinued operation as of the
first quarter of 2008. Ahold's unconsolidated joint venture JMR
continues to be classified as a discontinued operation.
Ahold Press Office: +31 (0)20 509 5291
Notes
The net sales figures presented in this trading statement are
preliminary and unaudited.
Definitions
* Identical sales: net sales from exactly the same stores in local
currency for the comparable period.
* Comparable sales: identical sales plus net sales from replacement
stores in local currency.
* Constant exchange rates: excludes the impact of using different
currency exchange rates to translate the financial information of
certain of Ahold's subsidiaries or joint ventures to euros. For
comparison purposes, the financial information of the previous
year or quarter is adjusted using the average currency exchange
rates for the current year or quarter in order to understand this
currency impact.
Non-GAAP financial measures
This trading statement includes the following non-GAAP financial
measures:
* Net sales, at constant exchange rates. Net sales, at constant
exchange rates, exclude the impact of using different currency
exchange rates to translate the financial information of certain
Ahold subsidiaries or joint ventures to euros. Ahold's management
believes this measure provides a better insight into the
operating performance of Ahold's foreign subsidiaries or joint
ventures.
* Identical sales, excluding gasoline net sales. Because gasoline
prices have experienced greater volatility than food prices,
Ahold's management believes that by excluding gasoline net sales,
this measure provides a better insight into the effect of
gasoline net sales on Ahold's identical sales.
Ahold's financial year
* Ahold's reporting calendar is based on 13 periods of four weeks.
The quarters in 2008 are as follows:
First Quarter December 31, 2007 through April 20, 2008
Second Quarter April 21 through July 13, 2008
Third Quarter July 14 through October 5, 2008
Fourth Quarter October 6 through December 28, 2008
Cautionary notice
This press release includes forward-looking statements, which do
not refer to historical facts but refer to expectations based on
management's current views and assumptions and involve known and
unknown risks and uncertainties that could cause actual results,
performance or events to differ materially from those included in
such statements. These forward-looking statements include, but are
not limited to, statements as to Ahold's continued focus on value
and the impact thereof on performance, Ahold's response to changes
in consumer and competitor behaviour and Ahold's intention to
divest its stake in JMR. These forward-looking statements are
subject to risks, uncertainties and other factors that could cause
actual results to differ materially from future results expressed
or implied by the forward-looking statements. Many of these risks
and uncertainties relate to factors that are beyond Ahold's ability
to control or estimate precisely, such as the effect of general
economic or political conditions, rising food prices, fluctuations
in exchange rates or interest rates, increases or changes in
competition, Ahold's ability to implement and complete successfully
its plans and strategies, the benefits from and resources generated
by Ahold's plans and strategies being less than or different from
those anticipated, changes in Ahold's liquidity needs, the actions
of competitors and third parties and other factors discussed in
Ahold's public filings. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. Koninklijke Ahold N.V., which is
Ahold's statutory name, does not assume any obligation to update
any public information or forward-looking statements in this
release to reflect subsequent events or circumstances, except as
may be required by securities law.
Please open the link below for the full version of the Trading
Statement Q3 2008:
Ahold Trading Statement Q3 2008:
http://hugin.info/130711/R/1262852/277044.pdf
This announcement was originally distributed by Hugin. The
issuer is solely responsible for the content of this
announcement.
Copyright � Hugin AS 2008. All rights reserved.
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