Brussels, May 6, 2009
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| Financial Highlights First Quarter 2009 (at identical exchange |
| rates) |
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| » Revenue growth of 3.0% (13.2% at actual rates) |
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| » Comparable store sales growth of 2.0% in the U.S. and 1.7% in |
| Belgium |
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| » Operating margin increases from 4.6% to 4.8% (4.9% at actual |
| exchange rates) |
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| » Operating profit increase of 7.3% (20.2% at actual rates) |
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| Other Highlights |
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| » Confirmation of 2009 earnings guidance |
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» CEO Comments
Pierre-Olivier Beckers, President and Chief Executive Officer of Delhaize Group, commented: "We are extremely pleased with the solid performance of all our operating companies in the current difficult environment. We generated positive comparable store sales growth and supported our margins on both sides of the Atlantic through targeted price management, the continued growth of private brand revenues and improved inventory management. In particular, our ability to grow market share in Belgium in this difficult environment is a clear sign that our price repositioning is bearing fruit. "
"We are on target with our plans to improve our cost structure by EUR 100 million and to generate EUR 50 million in working capital improvements this year. This will significantly enhance our flexibility to reinvest in our business and support our profitability. While we remain cautious for the rest of the year as a result of the global economic uncertainty, our solid first quarter performance and our plans for the rest of the year, lead us to confirm our 2009 guidance."