May 9 - Ahold today announced consolidated net sales of Euro 7.5 billion for the first quarter ending April 20, 2008. Compared to the first quarter of 2007, net sales decreased by 1.3% but increased by 6.8% at constant exchange rates.
In Europe, market conditions remained favorable. In the United States, the Value Improvement Program at Stop & Shop and Giant-Landover is on track. Price investments related to the roll-out of the program continue to impact margins and sales, with improvements expected later in the year. We remain vigilant about the economic environment and rising food prices.
Sales performance
Stop & Shop / Giant-Landover
Net sales increased 1.3% to $5.1 billion.
Net sales included $56 million of sales to Tops. Prior to its disposal, such sales were recorded as inter-company sales.
Identical sales increased 1.2% at Stop & Shop (0.2% excluding gasoline net sales) and decreased 1.5% at Giant-Landover (1.6% excluding gasoline net sales), impacted by lower pharmacy sales.
Comparable sales increased 1.6% at Stop & Shop and decreased 1.2% at Giant-Landover.
Giant-Carlisle
Net sales increased 9.2% to $1.4 billion.
Identical sales increased 5.7% (3.7% excluding gasoline net sales).
Comparable sales increased 6.7%.
Albert Heijn
Net sales increased 13.5% to €2.7 billion.
Net sales at Albert Heijn supermarkets increased 13.6% to €2.5 billion.
Identical sales at Albert Heijn supermarkets increased 11.3%.
Albert / Hypernova (Czech Republic and Slovakia)
Net sales increased 18.0% to €512 million (7.9% at constant exchange rates).
Identical sales increased 7.8%.
Unconsolidated joint venture - ICA
Net sales increased 10.8% to €2.3 billion (11.7% at constant exchange rates).
Schuitema
Schuitema has been classified as a discontinued operation as of the first quarter of 2008.